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Sharps 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, have signed a sales and distribution agreement to cooperatively sell and distribute each other's products to their respective areas of influence. The agreement expands Sharps' American-based product market into Europe, the Middle East, Africa, and the Asia-Pacific region, and opens Roncadelle's reach into the dynamic North American and Latin American markets. The agreement, signed on March 4, 2024, lays the groundwork for further collaboration between Sharps and Roncadelle to develop and manufacture next-generation drug delivery products.
"We believe that this is just the beginning of Sharps' collaboration with Roncadelle. It expands our footprint as a premier manufacturer and a distributor of smart safety syringes as well as a collaborative leader in the development of drug delivery systems for the world market," commented Sharps Technology CEO Robert Hayes. "Sharing our product portfolio gives healthcare customers one-stop access to a broad range of delivery solutions and price points to match their needs and strictest requirements."
Italian-based Roncadelle Operations is a driving force in the development of novel medical drug delivery devices with its seasoned team boasting over two decades of healthcare expertise. The company specializes in developing and manufacturing proprietary passive safety syringes, and 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. Roncadelle's premiere product line of SafeR Retractable Safety Syringes and needles offers a completely passive safety system with auto-disable reuse prevention features that provide world class technology at a competitive price point.
"We have embarked on a transformative journey in healthcare delivery through our partnership with Sharps Technology. I firmly believe this collaboration signifies our joint dedication to advancing the industry. Together, we are expanding our market presence and pioneering safer, more advanced solutions for medical administration," states Erik Ryckalts, CEO of Roncadelle. "This alliance underscores our unwavering commitment to innovation and excellence, reshaping standards within the global healthcare landscape."
Sharps Technology specializes in the development and manufacturing of innovative drug delivery systems. The Company's Securegard and Sologard product lines, manufactured at Sharps' Hungary facility, 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. Sharps' active safety Securegard and Sologard product lines complement Roncadelle's passive engagement SafeR Retractable Safety Syringes to provide the global healthcare market with a broad range of options and choices to fulfill the specific requirements for drug therapy delivery.
As part of the cooperative 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 creates 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.
Posted In: STSS
