NuGen Announces Strategic Partnership with EziAutoJector Limited
NuGen Medical Devices has announced a strategic partnership with EziAutoJector for the distribution of its needle-free InsuJet device in the UK and Germany. The agreement focuses on delivering U-100 insulin and subcutaneous biosimilar products. EziAutoJector has placed an initial order of 5,000 injectors and consumables, valued at $645,000 with a gross margin of $387,000. The distribution is set to begin around January 2025, with additional orders expected throughout the year. The partnership aims to expand into the long-term weight loss market under Dr. Dallas Burston's direction.
NuGen Medical Devices ha annunciato una partnership strategica con EziAutoJector per la distribuzione del suo dispositivo InsuJet senza ago nel Regno Unito e in Germania. L'accordo si concentra sulla fornitura di insulina U-100 e prodotti biosimilari sottocutanei. EziAutoJector ha effettuato un ordine iniziale di 5.000 iniettori e materiali di consumo, del valore di 645.000 dollari con un margine lordo di 387.000 dollari. La distribuzione dovrebbe iniziare intorno a gennaio 2025, con ulteriori ordini previsti nel corso dell'anno. La partnership mira ad espandersi nel mercato della perdita di peso a lungo termine sotto la direzione del Dr. Dallas Burston.
NuGen Medical Devices ha anunciado una asociación estratégica con EziAutoJector para la distribución de su dispositivo InsuJet sin aguja en el Reino Unido y Alemania. El acuerdo se centra en la entrega de insulina U-100 y productos biosimilares subcutáneos. EziAutoJector ha realizado un pedido inicial de 5.000 inyectores y consumibles, valorados en 645.000 dólares con un margen bruto de 387.000 dólares. La distribución está prevista para comenzar en enero de 2025, con pedidos adicionales esperados a lo largo del año. La asociación tiene como objetivo expandirse en el mercado de pérdida de peso a largo plazo bajo la dirección del Dr. Dallas Burston.
NuGen 의료 기기는 EziAutoJector와 영국 및 독일에서 바늘 없는 InsuJet 기기의 배급을 위한 전략적 파트너십을 발표했습니다. 이 협정은 U-100 인슐린 및 피하 바이오 의약품의 제공에 중점을 두고 있습니다. EziAutoJector는 645,000달러의 가치가 있는 5,000개의 주사기 및 소모품에 대한 초기 주문을 했으며, 총 이익은 387,000달러입니다. 배급은 2025년 1월로 예정되어 있으며, 연중 추가 주문이 있을 것으로 예상됩니다. 이 파트너십은 Dallas Burston 박사의 지휘 아래 장기 체중 감소 시장으로의 확장을 목표로 하고 있습니다.
NuGen Medical Devices a annoncé un partenariat stratégique avec EziAutoJector pour la distribution de son dispositif InsuJet sans aiguille au Royaume-Uni et en Allemagne. L'accord se concentre sur la distribution d'insuline U-100 et de produits biosimilaires sous-cutanés. EziAutoJector a passé une commande initiale de 5 000 injecteurs et consommables, d'une valeur de 645 000 $ avec une marge brute de 387 000 $. La distribution devrait commencer autour de janvier 2025, avec d'autres commandes prévues tout au long de l'année. Ce partenariat vise à s'étendre sur le marché de la perte de poids à long terme sous la direction du Dr. Dallas Burston.
NuGen Medical Devices hat eine strategische Partnerschaft mit EziAutoJector für die Verteilung seines nadellosen InsuJet-Geräts im Vereinigten Königreich und in Deutschland bekanntgegeben. Die Vereinbarung konzentriert sich auf die Bereitstellung von U-100 Insulin und subkutanen Biosimilarprodukten. EziAutoJector hat eine Erstbestellung von 5.000 Injektoren und Verbrauchsmaterialien im Wert von 645.000 Dollar mit einer Bruttomarge von 387.000 Dollar aufgegeben. Die Verteilung soll Anfang Januar 2025 beginnen, wobei im Laufe des Jahres mit weiteren Bestellungen zu rechnen ist. Die Partnerschaft zielt darauf ab, unter der Leitung von Dr. Dallas Burston in den langfristigen Gewichtsverlustmarkt zu expandieren.
- Initial purchase order of $645,000 with high gross margin of $387,000
- Strategic entry into UK and Germany markets
- Expansion into weight loss market alongside diabetes treatment
- Additional orders expected throughout 2025
- Revenue generation won't start until January 2025
5,000 InsuJet devices to be delivered to the UK
Toronto, Ontario--(Newsfile Corp. - October 25, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices to administer therapeutics subcutaneously, is pleased to announce a strategic partnership with EziAutoJector® Limited ("EziAutoJector"), a company domiciled in Jersey, United Kingdom, for the delivery of U-100 insulin to individuals with diabetes and subcutaneous biosimilar products using NuGen's InsuJetTM device and consumables. U-100 insulin is the standard and most used strength today.
Pursuant to a license, supply and distribution agreement entered into between NuGen and EziAutoJector on September 27, 2024, EziAutoJector has been granted a license to distribute, market and promote NuGen's needle-free device under the brand name "EziAutoJector®" for the delivery of U-100 insulin and other subcutaneous biosimilar protein products in multiple countries, including through wholesalers, sub-wholesalers and retailers.
EziAutoJector will leverage its clinical and commercial team, under the direction of Dr. Dallas Burston who has an established track record in the creation of prescription medicines, to promote and open up new opportunities for needle-free subcutaneous medicines and devices in the field of long-term weight loss under the brand name EziAutoJector within the UK and Germany.
EziAutoJector looks to commence its promotional and distribution activities in or around January 2025 with the delivery of it first purchase order of 5,000 injectors and associated consumables representing revenue of
Louise Cresswell, NuGen's Commercial Lead for the United Kingdom, commented: "NuGen's strategic partnership with EziAutoJector's clinical and commercial team presents new opportunities for drug-device combination products and helps us further in adding value to healthcare systems, clinicians and patients by addressing an unmet need for needle-free, subcutaneous drug delivery in new therapy areas."
Karen Dunlap, NuGen's Interim Chief Executive Officer, commented: "We are extremely excited to have a strategic partnership with EziAutoJector, taking NuGen to a new level of distribution into the pharmaceutical world of subcutaneous biosimilar protein products to manage weight loss and diabetes. The EziAutoJector® will be marketed and distributed in conjunction with the pharmaceutical product. They are combining their experienced team with commercial and clinical strategies that will support strong growth within this market."
About EziAutoJector
EziAutoJector and its affiliates are leading innovators in needle-free technology, dedicated to supporting the health and wellbeing of people with Diabetes Type 1, Type 2 and other chronic conditions. By providing cutting-edge solutions, we aim to enhance the quality of life for patients and empower healthcare professionals to deliver patient focused care.
About Dr. Dallas Burston
Dr. Dallas Burston is a distinguished entrepreneur and healthcare leader renowned for his innovative contributions to the industry and strategic investments. With a passion for enhancing patient care, he has successfully launched several healthcare initiatives that prioritize quality and accessibility. Dr. Burston's extensive experience includes leading groundbreaking projects that integrate technology and healthcare, paving the way for more efficient and effective treatment options.
As an investor, he is committed to identifying and nurturing startups that align with his vision of transforming healthcare. His insightful approach has fostered significant advancements in medical technology and health services. Dr. Burston's unwavering dedication to improving healthcare outcomes and supporting emerging enterprises makes him a pivotal figure in the healthcare investment landscape, driving positive change for patients and communities alike.
Dr. Burston, most notably sold two pharmaceutical companies in 1999 and also founded a company which developed under the tongue pharmaceutical sprays which was acquired by Cambridge-based Synginex in 2003.
About NuGen
NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world.
For further information, please visit:
Websites: www.insujet.com, and www.nugenmd.com
Instagram: @NuGenMD
Twitter: @NuGenMD
LinkedIn: https://www.linkedin.com/company/nugenmd/
For further information, please contact:
Karen Dunlap, Interim Chief Executive Officer
(404) 386-0955
kdunlap@nugenmd.com
To arrange a media interview with NuGen, please contact:
Morna Gorman
(416) 553-1732
morna@nugenmd.com
Notice Regarding Forward-Looking Information:
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This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227835
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