Sharps Technology Provides Update on Commercialization Activities and is Highlighted in Med Tech Outlook Feature Article
06 Juillet 2023 - 1:50PM
Sharps Technology, Inc. (the “Company”) (NASDAQ: “STSS” and
“STSSW”), an innovative medical device and drug delivery Company
offering patented, best-in-class syringe products, announces an
update on commercialization activities and is highlighted in Med
Tech Outlook feature article.
Med Tech Outlook named Sharps Technology, Inc.
the “Top Safety Syringe Manufacturer in 2023” and featured the
Company in a cover article in the July edition of the publication,
which can be found HERE. The article, entitled "Sharps Technology,
Inc.: Modernizing Drug Delivery with Novel Safety Syringe System
Innovations", reviews the Company's technology offerings,
transformative partnership with Nephron Pharmaceuticals, its next
generation polymer-based prefillable syringe systems, and strategy
forward with commercialization. Sharps was privately founded in
2017 with a vision to develop innovative drug delivery technology,
and the Company is now advancing its products from research and
development to commercial sales that are expected to launch in
2023.
Sharps has entered into an agreement with a
major medical device company that will begin the qualification
process for its smart safety syringe technology to help drive
commercial revenue in 2023. The agreement will begin with 1ml and
3ml Securegard product line and will be followed by Sologard®
vial-draw products for larger volume drug applications. The
Company’s Securegard smart safety syringe platform will benefit
healthcare workers through a combination of active safety systems,
providing ultra-low waste technology with re-use prevention, and
the ability to reduce medical container waste. The agreement will
allow for the opportunity to create secondary sales agreements with
additional key hospital networks as part of the qualification
work.
In preparation for the commercialization of the
Company’s next-generation polymer-based prefilled syringe systems,
Sharps will begin production of the introductory products in the
fourth quarter of 2023. This work will be the first efforts to
support the co-manufacturing agreement between Sharps and Nephron
at the prefilled syringe Inject-EZ operation in Columbia, South
Carolina. Products will include 10ml and 50ml configurations
designed to support the 503B programs at Nephron as well as the
demand from other drug fill-finish companies. The 10ml and
50ml products have specific features and advantages that will
benefit these pharmaceutical filling companies that produce
products in support of the drug shortage programs defined by the
FDA and U.S. government.
“As we advance our commercialization strategy
for Sharps’ specialty syringe systems, we are at a pivotal time in
the Company’s history,” commented Robert Hayes, Sharps Technology
CEO. “We are committed to launching our line of Securegard products
and commencing the manufacturing of next-generation polymer-based
prefilled systems in 2023, which will transform the Company. The
qualification process is underway for Securegard at a large medical
device company, and we look forward to providing updates as the
product advances through the confirmation process. Sharps’
specialty polymer-based prefilled products will be manufactured in
the U.S. at Nephron’s facility in Columbia, South Carolina. It is a
significant milestone for Sharps to have the ability to have
manufacturing capacity in the U.S. that will produce prefilled
syringes to support both the healthcare industry and the Company’s
growth.”
About Sharps Technology
Sharps Technology is a medical device and
pharmaceutical packaging company specializing in the development
and manufacturing of innovative drug delivery systems. The
Company’s product lines focus on low waste and ultra-low waste
syringe technologies that incorporate both passive and active
safety features. These features protect front line healthcare
workers from life-threatening needle stick injuries and protect the
public from needle re-use. Sharps Technology has extensive
expertise in specialized prefilled syringe systems and ready to use
processing. The Company has a manufacturing facility in Hungary and
has partnered with Nephron Pharmaceuticals to expand its
manufacturing capacity in the U.S. For additional information,
please visit www.sharpstechnology.com.
Forward-Looking Statements:
This press release contains “forward-looking
statements” Forward-looking statements reflect our current view
about future events. When used in this press release, the words
“anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,”
“plan,” or the negative of these terms and similar expressions, as
they relate to us or our management, identify forward-looking
statements. Such statements, include, but are not limited to,
statements contained in this press release relating to our business
strategy, our future operating results and liquidity, and capital
resources outlook. Forward-looking statements are based on our
current expectations and assumptions regarding our business, the
economy, and other future conditions. Because forward–looking
statements relate to the future, they are subject to inherent
uncertainties, risks, and changes in circumstances that are
difficult to predict. Our actual results may differ materially from
those contemplated by the forward-looking statements. They are
neither statements of historical fact nor guarantees of assurance
of future performance. We caution you therefore against relying on
any of these forward-looking statements. Important factors that
could cause actual results to differ materially from those in the
forward-looking statements include, without limitation, our ability
to raise capital to fund continuing operations; our ability to
protect our intellectual property rights; the impact of any
infringement actions or other litigation brought against us;
competition from other providers and products; our ability to
develop and commercialize products and services; changes in
government regulation; our ability to complete capital raising
transactions; and other factors relating to our industry, our
operations and results of operations. Actual results may differ
significantly from those anticipated, believed, estimated,
expected, intended, or planned. Factors or events that could cause
our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. We cannot guarantee
future results, levels of activity, performance, or achievements.
The Company assumes no obligation to update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this release.
Investor Relations:
US Investor Relations: Adam Holdsworth,
Managing DirectorTraDigital IRadam@tradigitalir.com
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