Swiss tech company Sensile Medical has agreed to be acquired by Gerresheimer, a glass and plastics manufacturer specializing in pharmaceutical packaging and drug delivery devices, including insulin pens and inhalers, in a deal worth up to €350 million ($410 million), with half upfront.
The goal of combining the two companies includes developing new delivery systems with digital and electronic capabilities. Under the deal, Sensile Medical will function as a development center for value-added devices within the Gerresheimer Group.
“Sensile Medical is a perfect fit for us with its innovative products and platforms in drug delivery systems, including ‘connected’ devices,” Gerresheimer executive board member Andreas Schütte said in a statement. In addition, the company’s range of primary packaging for parenteral drugs will provide a good place to start for the development of smarter device and delivery systems.
The Düsseldorf, Germany-based Gerresheimer numbers around 10,000 employees and maintains manufacturing plans in Europe, Asia, and North and South America. Its product portfolio also includes prefillable syringes, vials, ampoules, bottles and containers for liquid and solid pharmaceuticals with closure and safety systems, as well as cosmetics packaging.
“This transaction represents a key milestone in Sensile Medical’s growth strategy,” said Sensile CEO Derek Brandt. “Gerresheimer is an ideal partner for Sensile Medical in so many ways. We look forward to becoming part of Gerresheimer’s success in the future.”
With about 120 employees based in Olten, Switzerland, Sensile develops large volume injectors and liquid drug delivery systems, including micro pumps.
Sensile recently teamed up with Sanofi and Verily to develop an all-in-one, internet-connected insulin patch pump aimed at patients with Type 2 diabetes. Sanofi will provide diabetes solutions and insulins, while Sensile Medical will develop the patch’s micro-pump technology. Verily, formerly Google Life Sciences, joined to assist with the digital side.