The acquisition of Sorrel is a crucial step in LTS' strategy to broaden its portfolio of drug delivery platforms. Sorrel's large volume wearable injector technologies will enable LTS to go beyond its current passive technology offerings. It opens new opportunities for LTS to support pharma partners in the field of large molecules and biologics.

With the acquisition, Sorrel will become part of the worldwide network of LTS and operate as a new LTS division named LTS Device Technologies. Dr Andrei Yosef has been appointed as President and General Manager of LTS Device Technologies.

Bas van Buijtenen, CEO of LTS, commented: "The acquisition of our new Device Technologies platform catapults LTS into the world of drug delivery for large molecules, and fulfils our mission to bring empowering solutions to patients that rely on cumbersome and expensive therapies requiring in-clinic administration or multiple injections. The Sorrel solutions set a new standard for performance, quality, reliability, and patient convenience in wearable injection devices. The technology is now ready for commercial launch and will accelerate its scale-up within LTS, benefiting from LTS's global reach and reputation. We are excited to welcome Dr. Andrei Yosef and his talented team to our organization."