FOR IMMEDIATE RELEASE
May 17, 2017
SCRA ANNOUNCES SC LAUNCH INVESTMENT IN PHARMRIGHT
Charleston Company Receives $200,000
Summerville, S.C. – SCRA’s affiliate, SC Launch, Inc., recently finalized a $200,000 investment in PharmRight Corporation, a healthcare technology company based in Charleston. This is the second tranche of SC Launch funding for the company, which was accepted into the program in December 2013. To date, PharmRight has raised over $6.5 million in capital from investors.
PharmRight’s cutting edge device, Livi®, is a highly-advanced solution for home medication dispensing. Livi uses cellular communications and a cloud-based application to manage the dosing of prescription medication and supplements. The device prompts users when to take their medicine and ensures adherence.
“We are grateful for the continued commitment from SC Launch. This capital will allow us to accelerate sales and marketing efforts,” said Bill Park, President and CEO.
The SC Launch program is SCRA's entrepreneurial platform that provides mentoring, grants and investments to qualified, South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences industries.
Chartered in 1983 by the State of South Carolina, SCRA fosters South Carolina's Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators. SCRA is a public, non-profit corporation.
PharmRight Corporation was formed in 2013 to produce devices and offer services that maximize medication adherence and allow patients to age in place. The company’s first product is Livi®, advanced, extremely reliable and fully-automated home medication dispensing system managed by an intuitive cloud-based application making real time monitoring of medications quick and easy.