Oval Medical acquired by US healthcare giant
Cambridge UK autoinjector business Oval Medical Technologies is the latest enterprise in the cluster to fall into foreign ownership.
The specialty pharmaceutical device company has been acquired for an undisclosed sum by Wisconsin, US-headquartered SMC Ltd.
Oval’s autoinjector platforms address the unmet needs in the self-injection market utilising both cyclic olefin plastic and glass primary drug containers. Their autoinjectors deliver both non-viscous and viscous drugs. The design of the autoinjector provides patients with an ease-of-use solution for fast and simple two-step administration in emergency and non-emergency environments. The platform is available to pharmaceutical companies for their drug delivery systems.
SMC’s global healthcare contract manufacturing expertise enables SMC and Oval to become a comprehensive combination product solution provider for the pharmaceutical industry. SMC has operations across the US, Costa Rica and India.
SMC president and founder Chetan Patel, said: “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 autoinjectors, the Oval team brings a wealth of knowledge and experience in the design, development and manufacturing of inhalation products.”
Oval chief executive Barbara Lead added: “Pharmaceutical companies require reliable customisded devices for their high value biologics. 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 favoured by patients who need to carry these potentially lifesaving products at all times.”
SMC provides global contract manufacturing solutions of single-use devices for the pharmaceutical, medical and diagnostics industries. With 700,000 square feet dedicated to healthcare manufacturing, Its full product services range from initial concept through the final packaged device – including programme management, design & development, product manufacturing, clinical manufacturing, electronics integration, and global supply chain management.
Oval Medical Technologies is based at the world-renowned Cambridge Science Park.