LTS Lohmann Therapy Systems AG
Andernach
LTS LOHMANN Therapie-Systems AG (“LTS”), a leading pharmaceutical technology company that develops and manufactures innovative delivery systems such as transdermal patches (“TTS”), oral drug films (“OTF”) and micro array patches (“MAP”) is announcing the signing of an agreement to acquire the Sorrel Wearable Injection Devices (“Sorrel”) business, based in Netanya, Israel, of Eitan Medical Ltd (“Eitan Medical”). The acquisition is a key step in LTS’ strategy to expand its portfolio of drug delivery technology platforms. Sorrel’s wearable portfolio will allow LTS to expand the current offering beyond passive technologies (TTS, OTF and MAP) and thus open new possibilities for biologics delivery for bio/pharma partners.
Eitan Medical is a global leader in advanced infusion therapies and reliable, innovative drug delivery solutions that put the patient at the center of care and make drug delivery easier and safer. Within Eitan Medicals, Sorrel offers innovative solutions for subcutaneous drug delivery, particularly biologics. Connected wearables enable patients living with chronic and debilitating illnesses to safely and efficiently self-administer their medication without interrupting their daily lives.
Bas van Buijtenen, CEO of LTS, commented: “The acquisition of the Sorrel platform is a crucial step for LTS and catapults us into the world of biotechnological medicines.
It fulfills our purpose, because the Sorrel platform represents an important alternative for patients who previously had to rely on cumbersome treatment in a hospital or a large number of injections or infusions. We believe that Sorrel’s solutions will set a new standard for functionality, quality, reliability and patient comfort in wearables. The Sorrel platform is now ready for launch and will accelerate its scaling within the LTS organization while benefiting from LTS’ global reach and reputation. We are happy, dr. To welcome Andrei Yosef and his talented team to our company.
dr Boaz Eitan, CEO and Chairman of Eitan Medical, commented, “Sorrel has grown into a leader in its field. The acquisition is a testament to Eitan Medical’s capabilities. This transaction will allow us to focus on our core business of medication Delivery Solutions and continue to innovate in the field of drug delivery systems. I would like to thank Igal Shany for leading this transaction.”
dr Andrei Yosef, General Manager of Sorrel, added: “The acquisition by LTS will accelerate Sorrel’s growth and benefit our numerous pharma partners. The commercial launch of the Sorrel platform is planned for this year, as well as additional clinical studies with our pharma partners. The good LTS’ reputation, strong leadership, scale and combination product expertise will accelerate our growth. Sorrel’s patient-centric platform improves patient convenience and compliance with a reliable, easy-to-use wearable for home self-administration.”
About LTS
LTS LOHMANN Therapie-Systems AG is a leading pharmaceutical technology company that develops innovative delivery systems such as transdermal patches (“TTS”) and oral active substance films (“OTF”) for large bio/pharmaceutical, generics and consumer health companies and manufactures. LTS’ commercial offering includes more than 20 marketed products and a diverse pipeline of more than 30 development projects targeting various disease indications. The LTS innovation pipeline includes both partner-funded and LTS-funded projects. LTS maintains its leadership position through the continuous advancement of its core TTS and OTF technologies, as well as the advancement of new drug delivery technologies, including Micro Array Patches (MAP) for transdermal and intradermal delivery of biologics, large molecules and vaccines. LTS was founded in 1984 and today operates from three locations: in Andernach, Germany, West Caldwell, NJ, USA and St. Paul, MN, USA. LTS also has a representative office in Shanghai, China.
About Eitan Medical
Eitan Medical is setting new standards in drug delivery with trusted innovations that put the patient at the center of care and make drug delivery easier and safer than ever before. Patient safety and care is just the starting point, because Eitan Medical goes even further: The company offers connected, intuitive drug delivery and infusion solutions that improve the quality of life for patients and physicians in all areas of care, including hospital, ambulatory and home care . For over a decade, Eitan Medical has provided safe, intuitive and flexible solutions to meet the changing needs of medication delivery.
Contact:
dr Iris Schnitzler
[email protected]
0049-2632-2589
Original content from: LTS Lohmann Therapie-Systems AG, transmitted by news aktuell