Centice Corporation of Durham has a new stash of cash that could bring its latest product to market in 2008.
The pharmaceutical authentication sensor system (PASS Rx™) verfies that the medication given to a pharmacy customer matches his or her prescription. The company says this will create efficiencies for pharmacies and protect the consumer.
"The market introduction of PASS Rx™ will improve customer safety by enhancing the quality assurance process of dispensed medications," said Ray W. Swanson, president and CEO of Centice.
"We're at the forefront of a new and exciting opportunity for pharmacy."
This round of financing, Centice's second, came from The Aurora Funds of Durham, Novak Biddle Venture Partners of Bethesda, Md., S-Group Direct Investments Ltd., Innovation Ventures and individual investors.
Centice's technology originated from Duke University.