Nephron Pharmaceuticals Corporation and Sharps Technology, Inc. Announce Manufacturing and Research Partnership
11 November 2022 - 8:05AM
Nephron Pharmaceuticals Corporation and Sharps Technology, Inc.
(the “Company”) (NASDAQ: “STSS” and “STSSW”), an innovative medical
device and drug delivery company offering patented, best-in-class
syringe products, announced today a new partnership focused on
developing and sharing best practices in innovative manufacturing,
product development, customer support, and quality as Nephron
prepares to launch the Company's InjectEZ component of expansion.
Sharps Technology is a medical device and
pharmaceutical packaging company specializing in developing and
manufacturing innovative drug delivery systems. Nephron
Pharmaceuticals is known across the country to health systems and
hospitals as a leader in the production of affordable generic
inhalation solutions and suspension products, as well as pre-filled
sterile syringes, luer-lock vials, IV bottles, and IV bags.
InjectEZ is part of the Nephron investment of hundreds of millions
of dollars over the last two years to increase manufacturing
capacity in its Lexington County, S.C. facilities.
“We are excited to kick off a partnership with
Sharps Technology, as our InjectEZ expansion project opens, for a
variety of innovative initiatives, including research and
development,” said Lou Kennedy, Nephron’s CEO. “Just as the
InjectEZ syringe manufacturing facility is poised to play a
critical role in assisting those with whom we work on tackling
emerging public health crises, Sharps Technology also offers key
solutions to healthcare challenges. We look forward to working with
them.”
Sharps' product lines have historically focused
on low waste and ultra-low waste syringe technologies, which allow
up to 40% more injections per vial of therapy while incorporating
multiple passive safety features. These features protect front-line
healthcare workers from life-threatening needle stick injuries and
protect the public from needle re-use. The partnership with Nephron
opens opportunities for Sharps to expand its portfolio and make an
impact on the specialized pre-fillable syringe and drug delivery
systems market.
“Sharps Technology has identified a unique
opportunity to collaborate with a leader in the industry like
Nephron,” said Robert Hayes, CEO of Sharps Technology. “Through my
previous industry experience supporting and working with most of
the leading healthcare and pharmaceutical companies in the world,
it was easy for me to evaluate Nephron Pharmaceuticals as a
potential partner. They truly are a leader in all areas of business
and an example of best in class for the industry. I appreciate and
look forward to the opportunity to work with Bill and Lou Kennedy
and their leadership team to make this collaboration a success for
both companies.”
Sharps Technology brings extensive expertise in
syringes to Nephron, including experience with specialized
pre-filled syringe systems and ready-to-use processing. The
pre-filled syringe lines will utilize the highly automated
equipment and controlled environments established by Nephron. These
premium pre-filled polymer offerings will be made from the highest
quality raw materials, on the most innovative technology, and will
be compliant with the USP standards required in the United States
as well as the EP and JP international standards.
The products that will be developed and
commercialized provide solutions to support the current Nephron
fill/finish strategies as well as their pipeline of new drug
applications and sets forward a strategy to support branded pharma
and advanced therapies, including ophthalmic and biologic
applications.
Sharps Technology will also be partnering with
Nephron Pharmaceuticals in the development of a Pharmaceuticals
Services Program designed to support healthcare customers that need
innovative solutions and products to support their business. The
development of this program will help create new fill/finish
project opportunities for Nephron that will utilize innovative
packaging solutions developed by Sharps Technology. These new
customer projects will fuel the growth of both companies, and the
opportunity to create new technologies to support the healthcare
industry will be transformative for Nephron and Sharps as they
navigate a bright future working together.
About Sharps Technology,
Inc.Sharps Technology, Inc. is a medical device company
addressing global issues while engineering a safer future for
healthcare providers and people everywhere through compassionate
innovation. Sharps Provensa™ is the Company’s premier line of smart
safety syringes that eliminate accidental needlestick injuries,
prevent improper needle reuse, and reduce wasted medicine and
vaccines—while retaining the intuitive simplicity of traditional
syringes. Please visit SharpsTechnology.com to learn more.
Forward-looking StatementsThis
press release contains “forward-looking statements” Forward-looking
statements reflect our current view about future events. When used
in this press release, the words “anticipate,” “believe,”
“estimate,” “expect,” “future,” “intend,” “plan,” or the negative
of these terms and similar expressions, as they relate to us or our
management, identify forward-looking statements. Such statements,
include, but are not limited to, statements contained in this press
release relating to our business strategy, our future operating
results and liquidity, and capital resources outlook.
Forward-looking statements are based on our current expectations
and assumptions regarding our business, the economy, and other
future conditions. Because forward–looking statements relate to the
future, they are subject to inherent uncertainties, risks, and
changes in circumstances that are difficult to predict. Our actual
results may differ materially from those contemplated by the
forward-looking statements. They are neither statements of
historical fact nor guarantees of assurance of future performance.
We caution you therefore against relying on any of these
forward-looking statements. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include, without limitation, our ability
to raise capital to fund continuing operations; our ability to
protect our intellectual property rights; the impact of any
infringement actions or other litigation brought against us;
competition from other providers and products; our ability to
develop and commercialize products and services; changes in
government regulation; our ability to complete capital raising
transactions; and other factors relating to our industry, our
operations and results of operations. Actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended, or planned. Factors or events that could cause
our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. We cannot guarantee
future results, levels of activity, performance, or achievements.
The Company assumes no obligation to update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this release.
Investor Relations:Dave
GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or
407-491-4498STSS@redchip.com
or
US Investor Relations: Adam Holdsworth,
Managing DirectorTraDigital IRadam@tradigitalir.com
Sharps Technology (NASDAQ:STSS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Sharps Technology (NASDAQ:STSS)
Historical Stock Chart
From Jul 2023 to Jul 2024