REHOVOT and KIBBUTZ BAR'AM, Israel, September 14, 2010 /PRNewswire/ -- NanoPass Technologies Ltd. ("NanoPass"), a privately held company that develops novel microneedle solutions for painless delivery of drugs and vaccines, announced today that it has recently secured a strategic investment and manufacturing agreement with a leading medical device manufacturer, Elcam Medical ("Elcam"). Existing investors including Ofer Hi Tech and D Partners, also participated in the round.
As part of the investment, Mr. Ehud Raivitz, Elcam's CEO, and Mr. Ilan Neugarten of D Partners, will join NanoPass's Board of Directors. Ehud Raivitz remarked, "We are happy to enter into this partnership with NanoPass. I have been impressed by their innovative technology, positive clinical data and achievements. I look forward to leveraging Elcam's capabilities in production and engineering for the mutual benefit of both companies. The collaboration with NanoPass will enable Elcam to provide its customers with access to the most advanced intradermal delivery technology that can address their needs in various applications."
Dr. Yotam Levin, Chief Executive Officer of NanoPass, commented, "We are excited to enter into this strategic partnership with Elcam, a long time supplier of disposable medical products for the medical and pharma industries. 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 commercialization of our products. The investment will allow NanoPass to develop additional pharmaceutical clients and prepare for market launch."
About NanoPass Technologies Ltd.
NanoPass Technologies was founded by Dr. Shuki Yeshurun under the auspices of the Naiot Technological Incubator. The company is backed by prominent Israeli and US investors including Ofer Hi Tech, D Partners, WFD Ventures, and more recently, Elcam Medical.
About NanoPass's MicronJet Device
MicronJet is 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. MicronJet has proven efficacy and safety in multiple applications including seasonal flu vaccines, insulin and lidocaine. MicronJet is approved for marketing in various leading territories.
NanoPass has recently concluded the world's first intradermal h1n1 pandemic flu vaccine study, demonstrating equivalent immunogenicity to intramuscular delivery using 20% of the dose. In other clinical trials conducted by NanoPass and third parties, it has been shown that injecting a seasonal influenza vaccine directly into the skin allows for the reduction of the dose required for the same immune response ("dose sparing"). Further, using an equivalent dose may actually increase a vaccine's immunogenicity.
About Elcam Medical
Elcam Medical (Bar-Am, Israel) is a leading worldwide OEM supplier, servicing the medical industry, specializing in the areas of Fluid Management, Vital Signs Monitoring and Drug Delivery.
Contact: Yotam Levin +972-8-9462905 +972-523-392727 firstname.lastname@example.org
|SOURCE NanoPass Technologies LTD.|
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