The global medical manufacturer bought Oval Medical Technologies Ltd. for an undisclosed amount.
Oval has developed a small autoinjector, which initial testing indicates is much easier to use than alternatives.
Those who are allergic to nuts, bee stings, and other causes of anaphylactic shocks regularly use adrenaline injectors when they suffer a reaction, but the current market leader’s product is more than twice the size of Oval’s.
In a study conducted last year, all 21 participants were able to self-inject using the device without any prior training.
It is hoped that the acquisition will bring the product to the market in a short time, due to SMC’s scale.
Chetan N Patel, president of SMC, said: “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.”
Barbara Lead, CEO of Oval, said: “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.”