Galway medical device firm Aerogen has completed a management buyout from its US-based parent company for an undisclosed sum.

The company, which currently specialises in drug delivery technology for the respiratory sector, said the buyout would help open its business to new markets.

Chief executive John Power said he did not anticipate any difficulty to the business as a result of breaking away from Nektar.

Mr Power said Aerogen is already planning new partnerships in the US and Europe, and is at an advanced stage of negotiations. "There is a huge amount of business development activity going on," he said. "Coming out of Nektar will facilitate that."

Aerogen's main product is a micropump aerosol generator used in nebulisers, and its products are used in more than 50 countries. Its most important markets are the US, Japan and Germany.

Parent company Nektar Therapeutics specialises in biopharamceuticals, and Aerogen's product line was previously aimed at facilitating the delivery of drugs the company had planned.

However, Mr Power said the technology, which is a method to facilitate the aerosolisation of liquids, had potential applications in other sectors, including in the detection of biohazards.

Aerogen has 30 employees, but it expects to expand following the buyout. Under the terms of the deal, Nektar will keep a minority share in the company.