Stevanato Group (NYSE:STVN) announced today that it signed an extension to a licensing agreement with Haselmeier over its pen injector technology.
Piombino Dese, Italy-based Stevanato Group’s license extension gives the company exclusivity to offer the Axis-D pen injector technology in support of a broader range of drugs for its biopharma customers beyond diabetes, including areas such as obesity, cardiovascular disease, gastrointestinal disorders, pain management, neurological disorder, arthritis and more.
The company developed its Alina variable-dose and fixed-dose pen injector platform, compatible with established therapeutic regimens and drug therapies related to diabetes care, through the utilization of the Axis-D technology.
Stevanato Group Head of Product Management for Drug Delivery Systems Adam Stops said in a news release that the Alina platform combines ease of use for patients with faster time-to-market access for pharma organizations.
He added that the extension of the licensing agreement enables Stevanato Group to offer the technology to even more patients in more therapeutic areas as the company continues to expand its capabilities in the drug delivery space.
“The expansion of this agreement is an important step in enhancing and growing the opportunities in our drug delivery systems portfolio as we broaden our capabilities in this key market,” Stevanato Group CEO Franco Moro said. “We are constantly working with our customers to satisfy their needs, as we continue to experience an increase in demand for our high-value solutions and a shift up of the product value chain.”