Latest News | SII to Acquire 20 Pc Stake in IntegriMedical

New Delhi, May 17 (PTI) 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.

Also Read | JEE Advanced 2024 Admit Card Out at jeeadv.ac.in: Hall Ticket for Joint Entrance Examination Advanced Exam Released, Know Steps To Download.

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.

Also Read | Sikkim Day 2024 Date: Know the History and Significance of Sikkim Foundation Day That Marks the Formation of the 22nd State of India.

"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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)