Sharps Technology Secures SC Asset Purchase Exclusivity with $1 Million Escrow Deposit

Core Viewpoint - Sharps Technology is advancing its position in the prefillable syringe industry in the U.S. through the acquisition of InjectEZ assets from Nephron Pharmaceuticals, with a significant sales agreement in place [2][3]. Group 1: Acquisition Details - Sharps Technology has made a $1 million escrow deposit for exclusive rights to purchase InjectEZ assets, with the closing of the Asset Purchase Agreement and a five-year, $200 million syringe Sales Agreement expected within 60 days [2][3]. - The acquisition will establish Sharps as the first fully dedicated polymer prefillable syringe manufacturing plant in North America, with product shipments planned to begin by Q2 of 2025 [2][3]. Group 2: Financial Projections - Projected revenue from the new facility is expected to exceed $35 million in the first 12 months of sales following the commencement of product deliveries [2][3]. - The five-year sales agreement includes the purchase of next-generation copolymer prefillable syringes and is expected to support future purchases from Sharps' Hungary facility [4]. Group 3: Manufacturing Plans - Upon closing the acquisition, Sharps plans to ramp up its manufacturing implementation plan, including facility upgrades to support the production of pharmaceutical-grade COC prefillable syringes on three production lines [3][4]. - The first production line is expected to be qualified for shipment by early Q2 of 2025, with all three lines anticipated to produce saleable products by Q4 of 2025 [3][4]. Group 4: Strategic Partnerships - Sharps is collaborating with several Fortune 500 medical product distributors and pharmaceutical industry leaders to develop additional sales opportunities in the prefillable syringe market [4].