US drug delivery company Aptar Pharma has announced the acquisition of the device technology assets of Israeli company SipNose Nasal Delivery Systems. No financial details about the deal were disclosed but sources familiar with the matter have told "Globes" that the acquisition was for about $12.5 million.
Based in Yokneam, SipNose, which was founded in 2011 by CEO Iris Shichor, has developed a nasal drug delivery system to precisely target areas of the nasal cavity to enable enhanced systemic, local or even direct-to-brain delivery. This method is able to penetrate the Blood Brain Barrier through a breach discovered 20 years ago.
Currently delivering drugs to the brain requires flooding the entire body with the medication in the hope that small amounts will reach the targeted part of the brain, or invasive solutions like putting drugs into the spinal column through the skull. The possibility of replacing these technologies with a nasal spray is very attractive.
SipNose has raised several million dollars from private investors such as InMode founder Moshe Mizrahy, venture capitalist Hadar Ron and Mivtach Shamir. The company's drug delivery system is undergoing clinical trials.
Published by Globes, Israel business news - en.globes.co.il - on October 10, 2024.
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