Needle-free injector business sold
Drug delivery specialist The Medical House (TMH) has concluded the sale of its SQ-PEN needle-free insulin injector business to Diabetes Management International (DMI) for an initial consideration of
Drug delivery specialist The Medical House (TMH) has concluded the sale of its SQ-PEN needle-free insulin injector business to Diabetes Management International (DMI) for an initial consideration of £750,000 in cash.
The disposal enables TMH to concentrate all of its resources on growing its drug delivery systems business that involves developing, licensing and supplying pharmaceutical companies with bespoke self-injection technologies and devices.
Under the terms of the agreement, TMH has granted DMI an exclusive worldwide licence to use the SQ-PEN technology for the delivery of insulin to humans. TMH will also provide ongoing assistance with manufacturing the SQ-PEN for a period of up to 12 months. An additional £50,000 will be made to TMH at the end of that period.