SMC Ltd., said today that it acquired auto-injector developer Oval Medical Technologies for an undisclosed amount. Cambridge, UK-based Oval Medical Technologies develops auto-injectors for a 2-step administration of non-viscous and viscous drugs using cyclic olefin plastic and glass primary drug containers.
Somerset, Wisconsin-based SMC is a global contract manufacturer of single-use devices for pharmaceutical, medical and diagnostics companies.
“We are excited to have Oval Medical Technologies within the SMC family. SMC’s years of experience in medical device contract manufacturing paired with Oval’s innovative approach to drug delivery combination products creates a complete solution for the pharmaceutical market. In addition to auto-injectors, the Oval team brings a wealth of knowledge and experience in the design, development and manufacturing of inhalation products,” SMC founder & president Chetan Patel said in prepared remarks.
“Pharmaceutical companies require reliable customized devices for their high value biologics,” Oval Medical Technologies’ CEO Barbara Lead added. “As part of SMC, Oval will be well placed to provide customers with devices that meet their needs and those of their patients. The combination of Oval’s design and development capability and SMC’s capabilities in global manufacturing, will ensure a high level of reliability in product performance and a fast route to market. These capabilities are also important for the acceleration of the development of our innovative epinephrine combination product. This small innovative, and reliable design is favored by patients who need to carry these potentially lifesaving products at all times.”
“SMC, as one of the leading global contract manufacturers of medical devices, gives Oval a fantastic opportunity to support our customers seamlessly from concept to full-scale industrialization, and provide class-leading quality and time-to-market. SMC and Oval have a deep range of capabilities and experience, which will benefit not only our pharmaceutical customers, but the patients and others who ultimately use these products,” Oval Medical Technologies founder & chief technology officer Matthew Young said.