Sabal Medical, a developer of technology designed to help hospital staff deliver medications more safely and efficiently, has closed on a second round of financing from U.S. and German investors.
Sabal, which moved to suburban Charleston two years ago, did not disclose the amount of funding.
SC Launch! is also a backer of Sabal.
SC Launch! can invest up to $200,000 in startup funds. It also provides matching grants up to $100,000 for firms that receive federal research and development grants.
SC Launch! has provided funding for 53 companies and assisted other ventures with mentoring support. SC Launch! is part of the SCRA (South Carolina Research Alliance).
Massachusetts-based Nexus Medical partners and Medicis Nexus Partners GmbH in Germany provided the funding. Medicis is an affiliate of Nexus. Nexus has an office in Charleston. They also invested in Sabal in February.
"We closed on this tranche as a result of reaching key customer milestones," said Bill Park, Sabal’s chief executive officer. "With our sales pipeline growing, we have some very exciting times ahead of us, and the additional funds will allow us to continue our commercialization efforts already underway and scale-up as sales growth continues.”
Sabal plans to expand production and customer support operations with the new funds.