WEST COLUMBIA, SC and NEW YORK, Nov. 10, 2022 (GLOBE NEWSWIRE) — Nephron Pharmaceuticals Corporation and Sharps Technology, Inc. (the “Company”) (NASDAQ: “STSS” and “STSSW”), an innovative medical device and drug delivery company that provides patented, industry-leading syringe products, today announced a new partnership focused on developing and sharing best practices in innovative manufacturing, product development, customer support and quality, while Nephron focuses on the Prepared to launch the company’s InjectEZ expansion component.
Sharps Technology is a medical device and pharmaceutical packaging company specializing in the design and manufacture of innovative drug delivery systems. Nephron Pharmaceuticals is known by healthcare systems and hospitals across the country as a leading manufacturer of affordable generic inhalation and suspension products, as well as prefilled sterile syringes, luer lock vials, IV bottles and IV bags. InjectEZ is part of Nephron’s investment of hundreds of millions of dollars over the past two years to increase production capacity at its Lexington County, SC facilities.
“We are excited to partner with Sharps Technology on a variety of innovative initiatives, including research and development, with the opening of our InjectEZ expansion project,” said Lou Kennedy, CEO of Nephron. “Just as the InjectEZ syringe factory stands ready to play a critical role in supporting those we work with in addressing emerging public health crises, Sharps Technology also provides key solutions to healthcare challenges. We look forward to working with you.”
Sharps’ product lines have historically focused on low-waste and ultra-low-waste syringe technologies that allow for up to 40% more injections per therapy vial while incorporating several passive safety features. These features protect frontline medical workers from life-threatening needlestick injuries and protect the public from needle reuse. The partnership with Nephron opens up opportunities for Sharp to expand its portfolio and impact the specialized prefillable syringe and drug delivery system market.
“Sharps Technology recognized a unique opportunity to work with an industry leader like Nephron,” said Robert Hayes, CEO of Sharps Technology. “Based on my previous industry experience of supporting and working with most of the world’s leading healthcare and pharmaceutical companies, evaluating Nephron Pharmaceuticals as a potential partner was easy for me. They are truly leaders in all areas of the business and an example of best in class for the industry. I appreciate and look forward to the opportunity to work with Bill and Lou Kennedy and their leadership team to make this collaboration a success for both companies.”
Sharps Technology brings extensive syringe expertise to Nephron, including experience in specialized pre-filled syringe systems and ready-to-use processing. The prefilled syringe lines will utilize the highly automated equipment and controlled environment established by Nephron. Manufactured from the highest quality raw materials using the most innovative technology, these premium pre-filled polymer offerings conform to required USP standards in the United States, as well as international standards EP and JP.
The products being developed and commercialized will provide solutions to support Nephron’s current fill/finish strategies, as well as its pipeline of new drug applications, and present a strategy to support branded pharmaceuticals and advanced therapies, including ophthalmic and biological applications.
Sharps Technology will also partner with Nephron Pharmaceuticals to develop a pharma services program designed to support healthcare customers who need innovative solutions and products to support their business. The development of this program will help create new opportunities for Nephron fill/finish projects utilizing innovative packaging solutions developed by Sharps Technology. These new customer projects will fuel the growth of both companies and the opportunity to develop new technologies to support the healthcare industry will be transformative for Nephron and Sharps as they steer towards a bright future together.
About Sharps Technology, Inc.
Sharps Technology, Inc. is a medical device company that addresses global issues while creating a safer future for healthcare providers and people around the world through compassionate innovation. Sharp’s Provensa™ is the company’s premier line of intelligent safety syringes that prevent accidental needlestick injuries, prevent improper needle reuse and reduce waste of medication and vaccines – while maintaining the intuitive simplicity of traditional syringes. Please visit SharpsTechnology.com to learn more.
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