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SteadyMed raised $2 million in funding round led by Samson Venture Partners January 29, 2009

Posted by israelhealthcare in Drug Delivery.

Medical device startup SteadyMed closed a $2 million round of funding led by Samson Venture Partners, the investment management arm of Becker & Associates Consulting, an FDA consulting firm specializing in innovative medical devices and drugs. Prior investors in SteadyMed include the RAD Biomed Incubator, and its Chairman, Yehuda Zisapel.

SteadyMed, founded in 2005, develops sophisticated miniature disposable infusion pumps with unique drug delivery characteristics that provide enhanced portability and optimized infusion algorithms for large molecules and high-viscosity drugs. The Company is targeting interest from several major pharma companies having biological drugs requiring the specialized drug-delivery characteristics enabled by the PatchPump technology.

“The SteadyMed drug delivery platform has the potential to expand the market for currently approved drugs, and, perhaps most importantly, create markets that do not yet exist for new molecular entities, especially certain biologics,” said Karen M. Becker, CEO of Becker & Associates Consulting and Chair of the Samson Investment Committee.

Based in Tel Aviv, Israel, SteadyMed is developing innovative devices for delivering injectable therapeutic drugs for chronic conditions. The company is managed by Yossi Aldar, who was previously the Managing Director of Versamed Medical Systems and before that the CEO and co-founder of Flight Medical.

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