17 May

Posted at 09:02h in News
  • With this investment, SII will acquire 20% stake in IntegriMedical.
  • The investment by SII in IntegriMedical is expected to accelerate the development and commercialization of the N-FIS technology, making it more widely accessible to patients in India and worldwide.

 

PUNE, India May 17, 2024 – Serum Institute of India (SII), the world’s largest vaccine manufacturer, has announced a strategic investment in IntegriMedical, acquiring a 20% stake in the company, to advance Needle-Free Injection System technology.

The partnership between SII and IntegriMedical aligns with SII’s vision of ‘Health for All’ and IntegriMedical’s mission to ‘Transform Healthcare Globally’ by providing patient comfort, ensuring increased patient compliance, reducing needle-stick injuries, and enhancing the efficacy of liquid medication via needle-free dispersion.

IntegriMedical has developed a US patented Needle-Free Injection System (N-FIS) that utilizes high-velocity jet stream using mechanical power to effectively and consistently administer biologics and drugs. The innovative drug delivery solution aims to alleviate pain during administration, providing needle-phobic patients with a pleasant and stress-free experience.

Commenting on the strategic investment, Mr. Adar Poonawalla, CEO, Serum Institute of India, shared, “At SII, we are constantly seeking opportunities to invest in technologies that align with our mission to make healthcare accessible and affordable for people worldwide. IntegriMedical’s Needle-Free Injection Systems (N-FIS) represent a significant advancement in drug delivery and we envision a needle-free solution to deliver vaccines. We believe, this could potentially revolutionize the way we administer vaccines, making the process more comfortable for patients & healthcare professionals.”

“We are excited to have Serum Institute of India as our strategic partner,” said Sarvesh Mutha, MD, IntegriMedical. “This investment is a testament to the potential of our Needle-Free Injections System technology and its ability to revolutionize drug delivery. SII’s expertise in vaccine manufacturing and global distribution will be invaluable as we work towards making our technology more widely accessible to patients worldwide,” he added.

IntegriMedical’s Needle-Free Injections System also known as N-FIS has received regulatory approvals from CDSCO, CE, MDSAP and is ISO 13485 certified. Additionally, the technology is patented in the United States. IntegriMedical’s MD, Ankur Naik, has been instrumental in the development and clinical trials of the N-FIS technology, demonstrating its effectiveness in reducing pain and eliminating needle-phobia in patients.

The collaboration between SII and IntegriMedical leverages the strengths of both companies. SII brings its extensive expertise in vaccine manufacturing and global distribution, while IntegriMedical contributes its innovative drug delivery technology and research capabilities. Together, the companies aim to expand access to care and improve efficiencies in the global healthcare industry.

N-FIS will be available in the Indian private market, offering patients and healthcare providers an alternative to traditional needle-based injections. The technology’s advantages include the elimination of needle-phobia, alleviation of pain during administration, convenience of use, and prevention of needle-stick injuries and cross-contamination.

ENDS

Notes to Editor:
The global Needle-Free Injections System market, valued at USD 12.49 billion in 2022, is projected to experience substantial expansion with a Compound Annual Growth Rate (CAGR) of 14.16% during the forecast period from 2023 to 2028, reaching a valuation of USD 27.65 billion by 2028. This market growth is attributed to factors such as the escalating prevalence of chronic diseases, increasing incidents of needle-stick injuries, surging demand for self-injection devices, expanding vaccination programs, and advancements in product development technology. Source: Global Needle-Free Injections Market Forecast 2023-2028.

About the Serum Institute of India Pvt Ltd (SIIPL)
Serum Institute of India Pvt. Ltd, is a global leader in vaccine manufacturing, dedicated to providing affordable vaccines worldwide. Present across 170+ countries, including the US, UK, and Europe, SII holds the distinction of being the world’s largest vaccine manufacturer. SII’s multifunctional production and one-of-the-largest facility in Manjri, Pune, with an annual capacity of 4 billion doses, has saved over 30 million lives over the years.

Founded in 1966, SII’s primary mission is to produce life-saving immunobiological drugs, with a particular emphasis on affordability and accessibility. Guided by a strong commitment to improving global health, the company has played a pivotal role in reducing the prices of essential vaccines, such as Diphtheria, Tetanus, Pertussis, HIB, BCG, r-Hepatitis B, Measles, Mumps, and Rubella. Notably, they are the manufacturers of ‘Pneumosil,’ the world’s most affordable PCV, and ‘Cervavac’ the first indigenous qHPV vaccine in India. Moreover, SII has been at the forefront of the global fight against COVID-19, delivering over 2 billion doses of the COVID-19 vaccine worldwide.

To further expand its global presence and ensure widespread vaccine availability, SII has established Serum Life Sciences Ltd, a subsidiary in the UK. Through relentless pursuit of innovation, SII continues to champion the cause of affordable vaccines, making a positive impact on the lives of millions worldwide. www.seruminstitute.com

About IntegriMedical
IntegriMedical is a privately-owned medical technology company focused on providing innovative drug delivery solutions for patients suffering from needle phobia. The company has research centers and manufacturing facilities in the USA, India and Hong Kong. www.integrimedical.com