OTS - LTS completes its entry into large molecule drug delivery with the acquisition of the Sorrel wearable injection device business.
2023. June 08. 17:00
Andernach, Germany, 8 June, 2023 (APA/OTS) - LTS LOHMANN
Therapie-Systeme AG ("LTS"), a leading pharmaceutical technology
company that develops and manufactures innovative drug delivery
systems such as Transdermal Patches ("TTS"), Oral Thin Films
("OTF") and Micro Array Patches ("MAP") has completed its
acquisition of the Sorrel wearable injection device business
("Sorrel") with headquarters in Netanya, Israel, from Eitan Medical
Ltd ("Eitan Medical"). Terms of the transaction, previously
announced on April 20, were not disclosed.
The acquisition of Sorrel is a crucial step in LTS' strategy to
broaden its portfolio of drug delivery platforms. Sorrel's large
volume wearable injector technologies will enable LTS to go beyond
its current passive technology offerings. It opens new
opportunities for LTS to support pharma partners in the field of
large molecules and biologics.
With the acquisition, Sorrel will become part of the worldwide
network of LTS and operate as a new LTS division named LTS Device
Technologies. Dr Andrei Yosef has been appointed as President and
General Manager of LTS Device Technologies.
Bas van Buijtenen, CEO of LTS, commented: "The acquisition of
our new Device Technologies platform catapults LTS into the world
of drug delivery for large molecules, and fulfils our mission to
bring empowering solutions to patients that rely on cumbersome and
expensive therapies requiring in-clinic administration or multiple
injections. The Sorrel solutions set a new standard for
performance, quality, reliability, and patient convenience in
wearable injection devices. The technology is now ready for
commercial launch and will accelerate its scale-up within LTS,
benefiting from LTS's global reach and reputation. We are excited
to welcome Dr. Andrei Yosef and his talented team to our
organization".
- Cross reference: Picture is available at AP Images
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About LTS
LTS LOHMANN Therapie-Systeme AG is a leading pharmaceutical
technology company that develops and manufactures innovative drug
delivery systems such as Transdermal Patches ("TTS") and Oral Thin
Films ("OTF") for the pharmaceutical industry. LTS´ commercial
offering encompasses more than 20 marketed products and a diverse
pipeline of more than 30 development projects targeting multiple
disease indications. LTS's innovation pipeline contains both
partner-funded as well as proprietary, LTS-funded projects. LTS
maintains its leading position through the continuous refinement of
its core TTS and OTF technologies and by advancing emerging drug
delivery technologies, including Micro Array Patches (MAP) for the
transdermal delivery of large molecule, biological actives. Founded
in 1984, LTS operates today from three sites: in Andernach,
Germany, West Caldwell, NJ, USA and St. Paul, MN, USA. LTS has also
a representative office in Shanghai, China.
Contact
Dr. Iris Schnitzler
iris.schnitzler@ltslohmann.com
Phone: +49 (0) 2632 99-0
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