US-based medical device company Portal Instruments has raised $11m in a series A round that included Sunrise, the early-stage investment vehicle of France-based pharmaceutical company Sanofi.
Venture Capital firm PBJ Capital and an undisclosed US-based medical device company were also involved.
Portal Instruments develops drug delivery systems. The new funds will be used to support the advancement of a needle-free delivery system for administrating biological drugs.
Following the round, Portal has also announced the establishment of its corporate headquarters in Cambridge, Massachusetts.
Patrick Anquetil, chief executive of Portal, said: “We are thrilled to have Sanofi as a strategic partner, believing in our vision of radically transforming drug administration.”