NanoPass and Elcam Medical enter partnership
Sign investment and manufacturing agreement for advanced drug delivery system
NanoPass Technologies, an Israeli developer of microneedle-based devices for drug delivery, has signed an investment and manufacturing agreement with medical device manufacturer Elcam Medical. Existing investors, including Ofer Hi Tech and D Partners, also participated in the investment.
As part of the agreement, Ehud Raivitz, Elcam's ceo, and Ilan Neugarten of D Partners, will join the NanoPass board.
‘I look forward to leveraging Elcam's capabilities in production and engineering for the mutual benefit of both companies,’ said Raivitz.
‘The collaboration with NanoPass will enable Elcam to provide its customers with access to the most advanced intradermal delivery technology.’
Yotam Levin, chief executive of NanoPass, added: ‘We see a significant synergy between our companies. Along with the regulatory approvals we have recently obtained from the FDA and other regulatory bodies, securing a reliable and highly experienced manufacturer is a key component towards full commercialisation of our products.’
NanoPass has developed the MicronJet, a microneedle-based device for ID delivery of vaccines and drugs. The device allows for consistent, reliable, and simple delivery of the drugs directly into the skin. It can be used for multiple applications including seasonal flu vaccines, insulin and lidocaine.
