Oval Medical Technologies receives £2m investment

As reported by Business Week, the Cambridge-based Oval Medical Technologies have secured a £2 million investment.

Oval Medical Technologies are experts in the design and development of drug delivery devices on vials, prefilled syringes and autoinjectors.

The substantial investment has come from AptarGroup, who now own a 20 per cent stake in Oval. They  are recognised as the market leader in the development and manufacture of innovative drug delivery services.

The investment will enable Apta Pharma, the division of the company which specialises in working with the pharmaceutical and biotech industries, to enter new categories, broaden it’s product portfolio and overall reach.

Oval is currently working with pharmaceutical companies to help customise devise for specific therapeutic areas. Currently, they are in the process of developing a novel auotinjector which is smaller and safer to use than any other device on the market.

Speaking of the news, Oval chairman, Peter Keen stated,

“Aptar Pharma’s recognised experience and global presence will enhance Oval’s credibility within the pharmaceutical market and we are delighted that they have become our preferred manufacturing partner.

“Oval will benefit from their experience and particularly as it moves forward and prepares for the scale up of its technology. The investment will provide Oval with financial resources to develop and commercialise its autoinjector technology more rapidly thereby ensuring that it remains a leader in the field.”

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