NUGEN MED DEVICES INC - NGMDF STOCK NEWS

NuGen Medical Devices announced a repeat order from Rosheta for 1,100 InsuJet™ units and consumables, valued at $147,000, to meet increasing demand in Yemen. This order represents a 37.5% increase from the initial order of 800 units placed in January 2024. The gross margin contribution on this sale is $102,900. Rosheta's marketing plan aims to expand nationwide distribution of InsuJet™, a needle-free injector. CEO Ian Heynen praised Rosheta's efforts to penetrate the Yemeni market through clinical marketing strategies at both pharmacy and physician levels.

NuGen Medical Devices announced an initial purchase order from Sol-Millennium for 3,832 InsuJet injectors and consumables, destined for pharmacies in Canada and Switzerland. This order, worth $801,000, will generate a gross margin of $448,000 for NuGen, more than double its total revenue for fiscal year 2023. Deliveries are scheduled for August through September 2024, with 3,282 units allocated to Canadian pharmacies and 550 units to Swiss pharmacies. This significant order reflects growing market demand and NuGen's accelerating growth.

NuGen Medical Devices (TSXV: NGMD) released its Q1 2024 financial results, meeting management's expectations. The company focused on preparing its new distribution channels in major markets including Canada, Europe, Brazil, and Mexico. Post-Q1, NuGen renegotiated its long-term debt, improving its balance sheet. The company aims for growth in InsuJetTM sales, driven by patient awareness, distribution expansion, and clinical community education. New distribution partners in Thailand, Argentina, Colombia, Peru, and Costa Rica were appointed. NuGen's CEO Ian Heynen, who joined in November 2023, emphasized the company's potential and strategic efforts for 2024.

NuGen Medical Devices Inc. announces a debt settlement of €275,000 with Care4Pharma B.V. through the issuance of 2,000,000 common shares at $0.20 per share. The company also extends payment obligations under the Share Purchase Agreement, allowing repayment of €1,200,000 by November 8, 2026, with an additional payment of €275,000 due after a financing round of C$3,500,000. CEO Ian Heynen expresses satisfaction with the agreement, emphasizing strategic growth opportunities.

NuGen Medical Devices Inc. announces that Sol-Millennium Medical Inc.'s global sales & marketing team has completed in-depth clinical training of NuGen's needle-free InsuJet™ medical device for sales and marketing throughout Europe. The training aims to facilitate sales in the diabetic markets in France and Spain. European order forecasts are expected soon, with first orders arriving before the end of Q1 2024. The company anticipates a positive relationship with Sol-M, with plans to go to market with the co-branded InsuJet™ needle-free medical device and consumables in 2024.

NuGen Medical Devices Inc. reports that its distribution partner in Mexico, Science-Link Trading SAPI de CV, has expanded their distribution network to include Argentina, Chile, Costa Rica, and Peru. Science-Link is now partnering with a large family-owned laboratory and clinic conglomerate which is expected to see Science-Link expand its operations into big box retail pharmacies in Mexico. The company expects to exceed the target of 5,000 needle-free injectors and consumables in 2024. The estimated adult diabetic population in Mexico grew to 14 million patients in 2021, with 1 in 6 adults now living with diabetes. Diabetes-related health expenditure in Mexico has reached USD $20 billion.

NuGen Medical Devices Inc. (TSXV: NGMD) announces Verrue Consulting Group BV as an official distributor for its needle-free InsuJet™ device in Belgium, with estimated sales of $2.4 million and a gross margin of 72% over a 5-year term.

NuGen Medical Devices Inc. (TSXV: NGMD) announced a 5-year exclusive distribution agreement with Advance Medical Life Co. Ltd. for its needle-free InsuJet™ device in Thailand, targeting initial sales to approximately 250,000 patients with Type 1 diabetes and estimating $4.9 million in sales if target sales of 29,000 devices over 5 years are met, with a gross margin of 72%.

NuGen Medical Devices Inc. (TSXV: NGMD) announces the completion of the registration of its needle-free InsuJet™ injection device for sale throughout Mexico as a medical device. The Mexican government has paid in full the purchase order for 500 units of InsuJet™ devices from Science-Link Trading SAPI de CV. NuGen also reports a distribution agreement with Science-Link targeting the sale of approximately 5,000 needle-free injectors in 2024, with an estimated lifetime value of US$6.2M to 2027. Mexico's large diabetes market presents a significant opportunity for the company's product.