Sindolor has developed the next generation safety needles for regular subcutaneous injection.
D Medical Industries Ltd. (TASE:DMDC) rescued Sindolor Medical Ltd. from receivership but the company's shareholders have nevertheless rejected an offer to purchase their shares. Sindolor has developed the next generation of drug delivery systems for regular subcutaneous injection using safety needles based on its proprietary EZject technology.
D Medical owns 57% of Sindolor and made an offer to purchase for 40% of the company - i.e. all shares not held by Sindolor CEO David Neuberg and the company's development team. Sindolor is in talks with two international pharmaceutical corporations to supply its safety needles, which the US Food and Drug Administration (FDA) has already approved. According to IVC Online, Sindolor's other shareholders are Dr. Arie Oko, Sindalor founder Dr. Michael Perry's Mitzuv Ltd., Socrates Ltd. and other private investors.
Published by Globes [online], Israel business news - www.globes-online.com - on June 18, 2008
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