Full Press Release Details
Technology Signs LOI with Roncadelle Operations Intended to Open Worldwide Sales and Distribution Opportunities for Safe Drug Delivery
would result in Sharps and Roncadelle Joining Forces to Access Global Healthcare Organizations Through More Than 30 Sales Partners worldwide
Technology, Inc., (NASDAQ: "STSS" and "STSSW"), an innovative medical device and pharmaceutical packaging
company offering patented, best-in-class syringe products, and Roncadelle Operations, a driving force in the development of novel
medical drug delivery devices with its seasoned team boasting over two decades of healthcare expertise, signed a Letter of Intent (LOI)
to enter into a sales and marketing agreement which would enable the Company and Ronadelle to cooperatively sell and distribute each
other's products to their respective areas of influence and expand Sharps' American-based product market into Europe, the
Middle East, Africa, and the Asia-Pacific region. The LOI was inked on January 16 and will be celebrated at the upcoming Pharmapack 2024
event in Paris later in the month. The LOI is subject to the negotiation of definitive documentation between the parties. Accordingly,
there can be no assurance that the parties will enter into a definitive agreement.
are excited about this opportunity to collaborate with Roncadelle, a premier manufacturer of smart safety syringes and a leader in the
development of drug delivery systems, to expand both our solution offerings in the U.S. and our reach into the world market," commented
Sharps Technology CEO Robert Hayes. "This agreement would be very beneficial for both companies."
Technology specializes in the development and manufacturing of innovative drug delivery systems. The Company's Securegard
and Sologard product lines focus on low waste and ultra-low waste syringe technologies that incorporate active safety features as well
as World Health Organization accredited re-use prevention measures. These features protect front line healthcare workers from life-threatening
needle stick injuries and protect the public from the dangers of needle re-use. The Company currently has a manufacturing facility in
Operations, based in Italy, specializes in developing and manufacturing proprietary passive safety syringes. As a Contract Development
and Manufacturing Organization (CDMO), they also provide end-to-end services from design to finished products of innovative, safer medical
drug delivery solutions. Their SafeR Retractable Safety Syringe and needles offer a passive safety system with auto-disable reuse prevention
features. "Sharing our product portfolio would give our healthcare customers, from large pharmaceutical companies to startup biologics,
access to a broad range of solutions and price points to match even their strictest requirements. This would open up a completely new
level of service to the market," states Ben Scheu, Senior Director of Sales for Sharps Technology.
the execution of a definitive sales and marketing cooperation agreement, Sharps and Roncadelle intend to collaborate on the development
of new drug delivery products. The need for innovative injection solutions is expected to grow over the next several years as injectables
are the first choice for therapies as diverse as vaccines, biologics, weight loss and maintenance, ophthalmics, gene therapies, and diabetes
management. The collaboration between Sharps and Roncadelle would create a very important player in advancing these market opportunities,
through the development of technologies such as prefilled syringes, needle guard systems, auto-injectors, and injector pen devices. In
light of the recent FDA safety communication concerning the use of syringes manufactured in China, the Company believes that the
market for safer syringes produced in the U.S. and Europe will grow at an accelerated rate.
Technology is an innovative medical device and pharmaceutical packaging company offering patented, best-in-class smart-safety syringe
products to the healthcare industry. The Company's product lines focus on providing ultra-low waste capabilities, that incorporate
syringe technologies that use both passive and active safety features. Sharps also offers products that are designed with specialized
copolymer technology to support the prefillable syringe market segment. The Company has a manufacturing facility in Hungary and is pursuing
plans to expand its manufacturing capacity in the U.S. For additional information, please visit www.sharpstechnology.com.
Roncadelle Operations:
Operations, located in proximity to Milan, specializes in Injection Devices. Operating as OEM and a Contract Development and Manufacturing
Organization (CDMO), Roncadelle combines technical and engineering expertise with high-quality industry standards. The Company is guided
by a "just do it faster" philosophy and a "value-for-money" focus, and delivers swift, economical solutions.
The core aspiration is to safeguard people from infection, creating safer injection solutions based on sound engineering performance.
Roncadelle Operations forge strategic partnerships with customers, investing in incremental resources when they are needed. Roncadelle's
strategically located facility with state-of-the-art clean room manufacturing embodies its strong commitment to innovation, efficiency
and safety in healthcare. For additional information, please visit www.roncadelle-operations.com.
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