WEST COLUMBIA, SOUTH CAROLINA 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 offering patented, best-in-class syringe products, today announced a new partnership focused on developing and sharing best practices as Nephron prepares to launch the company’s InjectEZ expansion, innovative manufacturing, Product development, customer support and quality.
Sharps Technology is a medical device and pharmaceutical packaging company that develops and manufactures innovative drug delivery systems. Nephron Pharmaceuticals has a strong reputation in health systems and hospitals nationwide as a leader in the production of affordable general-purpose inhalation solutions and suspensions, 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 manufacturing capabilities at its Lexington County, South Carolina, facility.
“With the launch of our InjectEZ expansion program, we are delighted to partner with Sharps Technology for a variety of innovative initiatives, including research and development,” said Nephron CEO Lou Kennedy. “Just as the InjectEZ syringe manufacturing facility is poised to play a critical role in helping us collectively address emerging public health crises, Sharps Technology also provides critical solutions to healthcare challenges. We look forward to working with them.”
Sharps’ product line has historically focused on low-waste and ultra-low-waste syringe technology, allowing up to 40% more injection volume per vial of treatment, while incorporating multiple passive safety features. These features protect frontline healthcare workers from life-threatening needlestick injuries and protect the public from needle reuse. The partnership with Nephron provides Sharps with the opportunity to expand its product portfolio and impact the specialty prefilled syringes and drug delivery systems market.
“Sharps Technology has found a unique opportunity to partner with an industry leader like Nephron,” said Robert Hayes, CEO of Sharps Technology. “Through my previous industry experience supporting and working with most of the world’s leading healthcare and pharmaceutical companies , I easily assess Nephron Pharmaceuticals as a potential partner. They are truly leaders in all areas of business, and industry-leading examples. I am grateful and look forward to the opportunity to work with Bill and Lou Kennedy and their leadership team to make this partnership a success. “
Sharps Technology brings extensive expertise in syringes to Nephron, including specialized pre-filled syringe systems and experience in ready-to-use processing. The prefilled syringe production line will utilize the highly automated equipment and controlled environment established by Nephron. These premium pre-filled polymer products will be made from the highest quality raw materials, manufactured using the most innovative technologies, and will meet USP standards required by the United States as well as EP and JP international standards.
Products to be developed and commercialized provide solutions to support the current Nephron fill/finish strategy and its pipeline of new drug applications, and develop strategies to support branded pharmaceuticals and advanced therapies, including ophthalmic and biological applications.
Sharps Technology will also partner with Nephron Pharmaceuticals to develop a pharmacy service 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 fill/finish project opportunities for Nephron that will utilize innovative packaging solutions developed by Sharps Technology. These new customer projects will advance both companies, and the opportunity to create new technologies to support the healthcare industry will be transformative for Nephron and Sharps as they navigate a bright future together.
About Sharps Technology, Inc.
Sharp Technologies is a medical device company that solves global problems while designing a safer future for healthcare providers and people around the world through compassionate innovation. Sharps Provensa™ is the company’s premier line of smart safety syringes that eliminate accidental needle stick injuries, prevent inappropriate needle use and reduce drug and vaccine waste—while retaining the intuitive simplicity of traditional syringes. Please visit SharpsTechnology.com for more information.
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