The deal will add a large molecule drug delivery platform to LTS’s growing portfolio of drug delivery systems.
A part of Eitan Medical, Israel-based Sorrel develops pre-loaded wearable devices for the subcutaneous delivery of large-molecule drugs. This includes devices with an internal drug reservoir that is filled at the point of care, as well as systems equipped with a pre-filled cartridge and vial.
Wearable systems have transformed drug delivery in healthcare as a tool for improving dosing adherence, especially in chronic diseases. In 2021, the global wearable injection market was estimated to be $6.66bn and is forecast to grow at a CAGR of 15.3% by 2030. One of the most common therapy areas using wearable devices is diabetes, with the insulin pump delivery system market expected to be worth $11.6bn by 2030, according to GlobalData.
LTS’s CEO Bas van Buijtenen said that Sorrel’s drug delivery platform is ready for a 2023 commercial launch and will leverage LTS’s global reach for scalability. LTS already develops and manufactures drug delivery systems including transdermal patches, oral thin films, and microarray patches.
van Buijtenen said: “The acquisition of the Sorrel platform catapults LTS into the world of drug delivery for large molecules and fulfils our mission to bring empowering solutions to patients that rely on cumbersome and expensive therapies requiring in-clinic administration or multiple injections.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Sorrel general manager Andrei Yosef said: “Sorrel’s platform commercial launch is planned for this year together with additional clinical trials with our pharma partners.”