Investment confirms interest to use SiO2's technology that may provide advantages including enhanced quality and performance
SiO2's breakthrough technology is anticipated to help provide regulatory benefits, enhanced primary packaging and potential operational savings for a range of products
Financing is co-led by MPM Capital, a leading healthcare investment firm
AUBURN, Ala., Nov. 18, 2019 /CNW/ --SiO2 Medical Products today announced a strategic investment by Novartis to explore and potentially use its materials sciences for packaging technology in a range of products. SiO2's containers are composed of a molded plastic body with a thin glass-like layer on the inside. Through SiO2's patented technology, a range of potential benefits is anticipated:
Enhanced packaging (low particulates, Silicone oil and Tungsten-free, no delamination, glass-like oxygen barrier, tighter dimensional control, no breakage);
Innovative materials science technology to potentially achieve enhanced quality and safety standards for Biologics. As health authorities are becoming more restrictive about particulate contamination, especially in ophthalmic products, SiO2's technology offers a unique platform to help address this requirement; and
Potential operational savings related to improved dimensional control. This allows more precise handling, filling, inspection, interface with mechanisms (e.g. auto-injectors) and dosing.
It is expected that after a first successful adoption for ophthalmic use, the technology could be extended to multiple products.
SiO2, a privately-owned, advanced materials science company, manufactures precision-molded Cyclic Olefin Polymer (COP) primary drug containers which incorporate a thin, transparent, silicon-based coating system composed of organosiloxane and silica Nano-layers. This breakthrough coating system uniquely combines the durability and dimensional consistency of plastics with the oxygen barrier properties, low extractables, and pH stability of glass (i.e. quartz).
"We thank our investors Novartis and MPM Capital, and we look forward to collaborating with Novartis on multiple applications of our materials science technology," said Lawrence Ganti, Chief Commercial Officer. "Novartis shares our vision for advancing technology to bring better patient outcomes. We believe this collaboration is one of the first of its kind where using advanced materials science in drug delivery may help improve patients' lives." Said in a joint statement by Dr. Robert Pangborn, retired head of Research & Development, Dow Chemical Corp., and Dr. Bob Langer, Professor at MIT, both leaders of SiO2's Scientific Board and with the collaboration of the leading scientists from around the world.
"SiO2's leadership combined with the Novartis collaboration, positions the organization for future success, said Tony Rosenberg, MPM Capital Executive Partner and SiO2 Board Director. "SiO2's innovative surface coating technology of primary drug containers has the potential to enable innovation across a wide range of products during the development cycle up to the final market presentation."
About MPM Capital MPM Capital is a healthcare investment firm with over two decades of experience founding and investing in life-sciences companies that seek to translate scientific innovations into cures for major diseases. With its experienced and dedicated team of investment professionals and Executive Partners, MPM strives to power novel medical breakthroughs that transform patients' lives. The firm invests across three vehicles: BV2018, a venture capital fund; an oncology-only crossover fund (both private and public equities); and another oncology-focused investment initiative with Dana-Farber Cancer Institute. For more information visit http://www.mpmcapital.com/www.mpmcapital.com.
About SiO2 Medical Products SiO2 Medical Products is a privately-owned U.S. advanced materials science corporation, managed by the same family over the last 100 years always involved in introducing breakthrough disruptive technology. The company's focus is to make the safest and most reliable packaging for the biotech and related industries. The company has developed a new material to make various products with. The company is currently located in Auburn, Alabama close to Atlanta, Georgia and is in the process of developing a new facility located near Basel, Switzerland to manufacture the same six-sigma plus quality in all of its facilities. The company has deep partnerships with leading professors in the leading research universities such as University of California, University of Chicago, MIT, and CalTech. For more information visit www.sio2med.com.
The statements contained in this press release may contain certain forward-looking statements relating to SiO2 Medical Products that are based on the beliefs of SiO2's management as well as assumptions made by and information currently available to SiO2's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to SiO2's business prospects, future developments, trends and conditions in the industry and geographical markets in which SiO2 operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, overall market trends, risk management and exchange rates.