SafeShot Technologies said it brought in a $6 million funding round to pursue a new business strategy, relocated to the Reprise Technologies medical device incubator and expanded its executive roster.
Now based out of the Reprise facilities in Menlo Park, Calif., SafeShot plans to "execute its new business strategy aimed at filling the gap in the supply of sterile injectable medications," according to a press release.
SafeShot said it will focus on building a syringe-filling operation "leveraging its technology and focusing on underserved points of care," according to the release.
"The quality issues with compounders have been well-publicized and the impact on affected patients can be terrible," director Dr. Robert Beart said in prepared remarks. "But other factors are not as widely understood by the public. Hospitals are facing drug shortages so patients can’t get the meds they need; this issue is heightened as half-full vials are discarded due to reuse concerns. Nursing time and staff resources are used preparing an injection and the process is more susceptible to medication error and contamination than pre-filled medications. These problems can be addressed by SafeShot."
"The infusion of talent and capital into the Company is energizing. We have game-changing technology and now the resources and skill to fulfill the vision we had when we started. With this team, SafeShot will deliver on its promise to dramatically improve patient safety and reduce risk for caregivers and hospitals," added founder Dan Thayer.
SafeShot also said it named Calibra Medical and Conor MedSystems veteran Jeff Tillack its new chief operating officer and John Merhige, a former vice president at Pluromed and later acquirer Sanofi.