SiO2 Medical Products Secures Strategic Investment from Novartis to Advance Ophthalmic Packaging Technology

On November 19, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that advanced materials science company SiO2 Medical Products announced it had secured a new round of strategic financing. The round was co-led by Novartis, a global pharmaceutical giant, and MPM Capital, a premier healthcare investment firm. Specific financial terms were not disclosed.

It is understood that Novartis’s latest round of investment aims to explore the application of SiO2’s product packaging technology in the medical field. According to SiO2, this technology will initially be applied to ophthalmic products.

SiO2 is a privately held advanced materials science company that primarily manufactures precision-molded cyclic olefin polymer (COP) primary pharmaceutical containers. These containers feature a thin, transparent silicon-based coating system composed of siloxane and silica nanolayers. This breakthrough coating system combines the durability and dimensional consistency of plastic with the oxygen barrier properties, low extractables profile, and pH stability of glass (i.e., quartz).

Lawrence Ganti, Chief Business Officer of SiO2, stated, “We thank our investors, Novartis and MPM Capital, and look forward to collaborating with Novartis on the diverse applications of materials science technologies. Like us, Novartis is committed to leveraging technological advancements to deliver better therapeutic outcomes for patients. We believe this marks the first application of advanced materials science in the field of drug delivery, which will help improve patients’ lives.”

Furthermore, in a joint statement, Dr. Robert Pangborn, former Head of R&D at Dow Chemical Corp. and current Chair of the SiO2 Scientific Advisory Board, and Dr. Bob Langer, Professor at the Massachusetts Institute of Technology, stated that they would collaborate with leading scientists worldwide to accelerate SiO2’s research and development progress.

Tony Rosenberg, Executive Partner at MPM Capital and Director of SiO2, stated, “The collaboration between SiO2 and Novartis has laid the foundation for the company’s future success. SiO2’s surface coating technology for primary pharmaceutical containers demonstrates the broad potential of materials science to drive innovation in healthcare throughout the entire process, from development cycles to final market launch.”

MPM Capital is a healthcare investment firm with over two decades of experience investing in life sciences companies that share a common commitment to translating scientific innovations into treatments for serious diseases. MPM Capital manages three investment vehicles: the BV2018 venture capital fund, a cross-over fund focused exclusively on oncology (covering both private and public equity), and an oncology-focused investment program established in partnership with the Dana-Farber Cancer Institute.

(Compiled by: Xiong Hui)