Sharps Technology Ships First Containers of Safety Syringes to Nephron Pharmaceuticals for Commercialization
January 31 2023 - 8:00AM
Sharps Technology, Inc. (the “Company”, "Sharps") (NASDAQ: “STSS”
and “STSSW”), an innovative medical device and drug delivery
Company offering patented, best-in-class syringe
products, announces the first shipments of product from its
wholly owned manufacturing facility in Hungary to Nephron
Pharmaceuticals to advance the Company's first commercial
operations.
Securegard is the first product that will be
available to the market through the Company's collaboration with
Nephron and will be introduced through Nephron’s network of more
than 3,000 customers. Securegard is a vial draw product with
innovative product features for safety, ultra-low waste and
non-reuse that has been approved by the Food and Drug
Administration (FDA), the World Health Organization (WHO), and
received a CE Mark, facilitating global sales. Initial shipments
will total 1.3 million 1-mililiter (1mL) units by February and will
increase with additional volume and product configurations as sales
commence.
Robert Hayes, Sharps Technology CEO, commented:
“With the first shipments of Securegard underway to Nephron, we
mark the beginning of commercial operations for Sharps. We are
committed to executing on our manufacturing and distribution plan
and through this shipment, the Company will transition to revenue
in the first half of 2023. Securegard will be the first of many
innovative syringe systems that Sharps launches in collaboration
with Nephron, and we look forward to announcing updates on new
products from our portfolio this year.”
About Sharps TechnologySharps
Technology is a medical device and pharmaceutical packaging company
specializing in the development and manufacturing of innovative
drug delivery systems. The company’s product lines focus on low
waste and ultra-low waste syringe technologies that incorporate
both passive and active safety features. These features protect
front line healthcare workers from life-threatening needle stick
injuries and protect the public from needle re-use. Sharps
Technology has extensive expertise in specialized prefilled syringe
systems and ready to use processing. The company has a
manufacturing facility in Hungary and has partnered with Nephron
Pharmaceuticals to expand its manufacturing capacity in the US. For
additional information, please visit www.sharpstechnology.com.
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We caution you therefore against relying on any of these
forward-looking statements. Important factors that could cause
actual results to differ materially from those in the
forward-looking statements include, without limitation, our ability
to raise capital to fund continuing operations; our ability to
protect our intellectual property rights; the impact of any
infringement actions or other litigation brought against us;
competition from other providers and products; our ability to
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transactions; and other factors relating to our industry, our
operations and results of operations. Actual results may differ
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our actual results to differ may emerge from time to time, and it
is not possible for us to predict all of them. We cannot guarantee
future results, levels of activity, performance, or achievements.
The Company assumes no obligation to update any forward-looking
statements in order to reflect any event or circumstance that may
arise after the date of this release.
Investor Relations:
US Investor Relations: Adam Holdsworth,
Managing DirectorTraDigital IRadam@tradigitalir.com
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Investor Relations:Dave
GentryRedChip Companies Inc.1-800-RED-CHIP (733-2447)Or
407-491-4498STSS@redchip.com
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