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Clinuvel Pharmaceuticals Completes Development of Proprietary Drug Delivery Device

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Clinuvel Pharmaceuticals (ASX:CUV) completed the development of a proprietary single-use device for subcutaneous drug delivery aimed at both hospital use and self-administration, according to a Tuesday filing with the Australian bourse.

The Zerokin device will be used to administer controlled-release formulations developed at the company's research, development and innovation center in Singapore, per the filing.

Since it is intended as a Class 2 device, Zerokin will require registration for human use with the US Food and Drug Administration, and an application for CE marking under European Union regulations, the company said.

It added that the global market for self-administered devices is forecast to grow to $40.5 billion by 2030 from $27.1 billion currently.

Clinuvel Pharmaceuticals shares fell past 1% in recent Tuesday trade.

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