NanoPass Technologies, a privately held developer of microneedle solutions for painless delivery of drugs and vaccines, has signed a strategic investment and manufacturing agreement with a medical device manufacturer Elcam Medical.
As part of the investment agreement, Elcam’s CEO Ehud Raivitz and Ilan Neugarten of D Partners will join NanoPass’ board of directors.
Raivitz said that they are happy to enter into this partnership with NanoPass and he has been impressed by their innovative technology, positive clinical data and achievements and 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,” Raivitz said.
NanoPass CEO Yotam Levin said that they are excited to enter into this strategic partnership with Elcam, a supplier of disposable medical products for the medical and pharma industries and see a significant synergy between their 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,” Levin said.
The investment will allow NanoPass to develop additional pharmaceutical clients and prepare for market launch.