EXTON, Pa., April 25, 2016 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced a strategic investment in NanoPass Technologies Ltd. This investment will provide West with access to NanoPass' knowledge and expertise in the growing area of intradermal drug delivery and future collaboration opportunities to bring new products to market. West's investment will also allow NanoPass to advance its clinical development efforts and support the launch of its microneedle-based device for intradermal delivery of vaccines and drugs.
"We expect that advances in intradermal drug delivery will be critical to realizing the full potential of some of the pharmaceutical and biotechnology industry's latest advancements in immunotherapy treatments," said Eric Resnick, Vice President and Chief Technology Officer, Innovation and Technology, West. "The microneedle technology developed by NanoPass complements our growing portfolio of drug delivery solutions at West, including our own Intradermal Adapter. We believe NanoPass has made great strides in this specialized area of drug delivery and we look forward to our partnership."
"We are delighted to enter into this strategic partnership with West, a recognized global leader in the integrated containment and delivery of injectable drugs," said Dr. Yotam Levin, Chief Executive, NanoPass. "We share a vision of enabling new vaccines, cancer and allergy immunotherapies with our intradermal injection technology, and envision significant synergies in production, marketing and future device developments. We could not have found a more suitable partner with the global reach, capacity and related expertise to grow NanoPass to the next level."
NanoPass is a pioneer in the development and commercialization of intradermal (skin) delivery solutions. The company collaborates with a variety of vaccine and immunotherapy product developers. NanoPass and its partners have concluded multiple clinical studies in various fields including vaccines, cancer, allergy and diabetes immunotherapy. The company was founded by Dr. Shuki Yeshurun. For more information visit: www.nanopass.com.
West Pharmaceutical Services, Inc. is a leading manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. Working by the side of its customers from concept to patient, West creates products that promote the efficiency, reliability and safety of the world's pharmaceutical drug supply. West is headquartered in Exton, Pennsylvania, and supports its customers from locations in North and South America, Europe, Asia and Australia. West's 2015 sales of $1.4 billion reflect the daily use of approximately 110 million of its components and devices, which are designed to improve the delivery of healthcare to patients around the world. For more information visit: www.westpharma.com.
Certain forward-looking statements are included in this release. They use such words as "allow," "support," "advance," "will," "potential," "enabling," "vision," "envision," "expect," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this release. There is no certainty that any technology described in this release will result in commercial sales or provide a meaningful return on investment. These forward-looking statements involve a number of risks and uncertainties. For a description of certain additional factors that could cause the Company's future results to differ from those expressed in any such forward-looking statements, see Item 1A, entitled "Risk Factors," in the West Pharmaceutical Services, Inc. Annual Report on Form 10-K on file with the U.S. Securities and Exchange Commission.
Except as required by law or regulation, West Pharmaceutical Services, Inc. undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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Emily Denney, Global Communications
Yotam Levin, CEO
SOURCE West Pharmaceutical Services, Inc.