SHL Medical and Lifecore Biomedical enter co-marketing partnership agreement

Rhea-AI Summary

SHL Medical enters co-marketing partnership with Lifecore Biomedical

Positive

• SHL Medical has entered into a non-exclusive co-marketing partnership agreement with Lifecore Biomedical
• Lifecore becomes a member of SHL's Alliance Management program
• Partnership allows both companies to provide unparalleled guidance in CDMO services and drug delivery device development
• SHL will recommend Lifecore for aseptic pharmaceutical manufacturing and primary container filling
• Partnership expands Lifecore's offerings to CDMO customers

Negative

• None.

ZUG, Switzerland, Oct. 17, 2023 /PRNewswire/ -- SHL Medical ("SHL"), a world-leading solutions provider of advanced drug delivery systems such as autoinjectors and innovative specialty delivery systems, has entered into a non-exclusive co-marketing partnership agreement with Lifecore Biomedical (Nasdaq: LFCR) ("Lifecore"), a fully integrated Contract Development and Manufacturing Organization ("CDMO") that offers highly differentiated capabilities in the development, fill and finish of complex sterile injectable pharmaceutical products in syringes and vials.

Through this partnership, Lifecore becomes a member of SHL's recently announced Alliance Management program, an initiative created to further strengthen SHL's vertically integrated business model by facilitating customer engagement with other key players within the drug delivery ecosystem.

SHL and Lifecore will, pursuant to the terms of its agreement, exchange knowledge and experience in their respective fields, enabling both companies to provide their customers unparalleled guidance in CDMO services and best-in-class options for drug delivery device development.

As the leader and pioneer of autoinjectors, SHL offers drug delivery device solutions and vertically integrated capabilities for the development, manufacturing, and final assembly of its autoinjector products. The partnership with Lifecore will allow SHL to recommend a trusted CDMO renowned for its proven proficiency and robust quality systems in aseptic pharmaceutical manufacturing and primary container filling, creating a comprehensive support system across all stages of the autoinjector development and commercial lifecycle.

"As a true partner to pharma and biotech, we believe in providing full end-to-end solutions that enhance patients' quality of life and enable patients' independence," said Kimberlee Steele, Managing Director of SHL Pharma, SHL Medical's final assembly, labeling, and packaging business unit in Florida. "We are excited to partner with Lifecore to provide high-quality CDMO services matching SHL's own high-touch approach to servicing our customers."

Darren Hieber, Senior Vice President of Corporate Development and Partnerships for Lifecore commented, "We are continuously adapting to keep pace with the evolution of healthcare treatments and technologies and our deep expertise in the fill/finish of syringes and vials is a perfect match for SHL's products. Our relationship with SHL will expand the breadth of our offerings to our CDMO customers, enabling them to deliver the benefits and convenience of innovative drug delivery systems to their patients worldwide. We are excited to be aligned with an industry leader, who has created a business focused on patient-centric solutions through their unique, convenient, high-quality product portfolio."   

- Picture is available at AP -

About SHL Medical
As a world-leading solutions provider of advanced drug delivery systems, SHL Medical is the partner of choice for many leading pharma and biotech companies. Driven by its company purpose – Enabling Patients' Independence – SHL Medical offers patient-centric solutions for the design, development, and manufacturing of autoinjectors, pen injectors, as well as innovative specialty delivery systems for large-volume and high-viscosity formulations. It also offers final assembly, labeling, and packaging solutions for its drug delivery systems. 

In response to the rising trend in home therapy, SHL Medical has increased its developmental work in the digital healthcare sector to help improve the drug delivery ecosystem.

Located across Switzerland, Taiwan, Sweden, and the US, SHL Medical's global team of experts collaborate seamlessly as one team in utilizing its comprehensive in-house manufacturing capabilities. The company's solutions offer customization and optimization for each project while proactively weaving sustainability-driven measures into its designs and processes to contribute to a cleaner earth. For additional information, visit www.shl-medical.com.

About Lifecore Biomedical
Lifecore Biomedical, Inc. is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of complex sterile injectable pharmaceutical products in syringes and vials. As a leading manufacturer of premium, injectable grade Hyaluronic Acid, Lifecore brings more than 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the Company, visit Lifecore's website at www.lifecore.com.

Media contact
Carl Gillblad
Communications and Marketing Operations
info@shl-medical.com
+41 41 368 00 00

Alliance Management contact
Alina Smotrova
Corporate Development
alliance@shl-medical.com
+41 41 368 00 00

Lifecore Investor Relations
Jeff Sonnek
jeff.sonnek@icrinc.com
(646) 277-1263

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements regarding future events and future results, including the anticipated business relationship between SHL and Lifecore, that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as "anticipate", "estimate", "expect", "project", "plan", "intend", "believe", "may", "might", "will", "should", "can have", "likely" and similar expressions are used to identify forward-looking statements. All forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially, including such factors among others, the nature and requirements of the relationship between SHL and Lifecore, the ability to achieve acceptance of Lifecore's new products in the marketplace, and government regulations affecting the companies' respective business. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Lifecore's filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K/A. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, neither company undertakes any obligation to update forward-looking statements made to reflect subsequent events or circumstances.

View original content:https://www.prnewswire.com/news-releases/shl-medical-and-lifecore-biomedical-enter-co-marketing-partnership-agreement-301958013.html

SOURCE SHL Medical

FAQ

What is the partnership agreement between SHL Medical and Lifecore Biomedical?

The partnership agreement is a non-exclusive co-marketing agreement that allows both companies to exchange knowledge and experience in their respective fields.

What is the purpose of SHL's Alliance Management program?

The Alliance Management program is designed to strengthen SHL's business model by facilitating customer engagement with other key players in the drug delivery ecosystem.

What capabilities does Lifecore Biomedical offer?

Lifecore Biomedical offers highly differentiated capabilities in the development, fill and finish of complex sterile injectable pharmaceutical products in syringes and vials.

What does SHL provide as a leader in autoinjectors?

SHL provides drug delivery device solutions and vertically integrated capabilities for the development, manufacturing, and final assembly of its autoinjector products.

What benefits does the partnership bring to Lifecore's CDMO customers?

The partnership allows Lifecore's CDMO customers to deliver the benefits and convenience of innovative drug delivery systems to their patients worldwide.