SII to acquire 20% stake in IntegriMedical

SII to acquire 20% stake in IntegriMedical

Vaccines manufacturer Serum Institute of India (SII) on Friday said it is acquiring 20 per cent stake in IntegriMedical, to advance needle-free injection system technology.

IntegriMedical has developed a US patented needle-free Injection System (N-FIS) that utilises high-velocity jet stream using mechanical power to effectively and consistently administer biologics and drugs, Serum Institute of India (SII) said in a statement.

The company, however, did not disclose the financial details of the transaction.

The innovative drug delivery solution aims to alleviate pain during administration, providing needle-phobic patients with a stress-free experience.

"IntegriMedical's N-FIS represents 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 and healthcare professionals," SII CEO Adar Poonawalla said.

IntegriMedical's N-FIS has received regulatory approvals from CDSCO (Central Drugs Standard Control Organisation), CE (European regulatory approval) MDSAP (Medical Device Single Audit Program, Australia) and is ISO 13485 certified, the statement said.

"Additionally, the technology is patented in the United States," it added.

"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," IntegriMedical Managing Director Sarvesh Mutha said.

N-FIS will be available in the Indian private market, offering patients and healthcare providers an alternative to traditional needle-based injections, SII said.

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, it added.