LTS LOHMANN Therapie-Systeme AG (“LTS”) has completed its acquisition of the Sorrel wearable injection device business (“Sorrel”) with headquarters in Netanya, Israel, from Eitan Medical Ltd (“Eitan Medical”).
| ANDERNACH, Germany, June 8, 2023 /PRNewswire/ -- 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 (http://www.apimages.com) - 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:
SOURCE LTS Lohmann Therapie-Systeme AG |
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