SII to acquire 20% stake in needle-free tech firm IntegriMedical
Vaccine major SII on Friday announced to acquire 20 per cent stake in medical device company IntegriMedical to advance in needle-free injection system technology
Pune: Vaccine major Serum Institute of India (SII) on Friday announced to acquire 20 per cent stake in medical device company IntegriMedical to advance in needle-free injection system (NFIS) technology.
IntegriMedical has developed a US patented N-FIS that utilises high-velocity jet stream using mechanical power to effectively and consistently administer biologics and drugs. The drug delivery solution aims to alleviate pain during administration, providing needle-phobic patients with stress-free experience, said SII in their statement.
Adar Poonawalla, CEO, SII, said, “We are constantly seeking opportunities to invest in technologies that aligned with our mission of ‘Health for All’. IntegriMedical’s N-FIS represents a significant advancement in drug delivery and we envision a needle-free solution to deliver vaccines. It would potentially revolutionise the way we administer vaccines.”
“We are excited to have SII as our strategic partner,” said Sarvesh Mutha, managing director (MD), IntegriMedical. “SII’s expertise in vaccine manufacturing and global distribution will be invaluable as we work towards making our technology more widely accessible to patients worldwide,” he said.
N-FIS will be available in the Indian private market providing an alternative to traditional needle-based injections. The technology’s advantages include convenience of use, prevention of needle-stick injuries and cross-contamination, the note stated.