Scientists at School of Mines and Technology create a tool that drastically lowers medication prices – Kotatv

RAPID CITY, S.D. (KOTA TV) The price of medication in the United States continues to be a problem for many, costing more than any other developed country in the world. That's why scientists at the South Dakota School of Mines and Technology have innovatively created a solution to reduce the price of medications... being the only company in the United States with the tool.

Todd Menkhaus is the Founder and Chief Technology Officer for Nanopareil.

"So we can now with this type of product reduce the cost of making a vaccine from say $20 to $30 a dose to maybe 20 to 25 cents a dose," said Menkhaus.

Coming up with the idea in 2006, The Nanopareil (NANO-PAREL) procedure has taken 13 years for scientists to create.

"It's really something that can make healthcare much more accessible and economical for everybody to have the therapies and vaccines that they need for their lives," added Menkhaus.

"We take the process and it becomes a process that might take 40 or 50 hours, and it's something that we can get done in 15 minutes," said Menkhaus.

The procedure is sufficient with all FDA regulations and the company hopes the cost-reducing procedure will help people throughout the country and around the world get the treatment they need.

"It can be used for vaccines, it can be used for pharmaceutical medicines, a lot of these newest therapies that are being generated right now by scientists are so-called 'gene-therapies' and those are also able to be purified by these devices," said Menkhaus.

Currently, the Nanopareil procedure is being tested by pharmaceutical companies around the world, and Menkhaus said within several months when the testing process is over, he projects the company to nearly quadruple to meet the demand of the tool.

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Scientists at School of Mines and Technology create a tool that drastically lowers medication prices - Kotatv