Business
InsuJet(TM) Registered as a Medical Device in Mexico
Second Bulk Sale for InsuJet(TM) Now Paid in Full Toronto, Ontario--(Newsfile Corp. - November 1...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"InsuJet(TM) Registered as a Medical Device in MexicoSecond Bulk Sale for InsuJet(TM) Now Paid in FullToronto, Ontario--(Newsfile Corp. - November 13, 2023) - NuGen Medical Devices Inc. (TSXV: NGMD) (the \"Company\" or \"NuGen\") is pleased to announce the Mexican government has completed the registration of NuGen's needle-free InsuJet™ injection device for sale throughout the country as a medical device.In May 2023, NuGen received its first bulk purchase order from Science-Link Trading SAPI de CV (\"Science-Link\"), a health and wellness company in Mexico, for the Mexican market for 500 units of the Company's needle-free InsuJet™ injection device, followed by an additional 2,000 units and consumables. The purchase order for the 500 InsuJet™ devices is now paid in full and delivery is anticipated during Q4 2023. NuGen is pleased to further report its distribution agreement with Science-Link targets the sale of approximately 5,000 needle-free injectors in 2024. At target, the total transaction value for 2023 and 2024 orders is estimated to have a lifetime value of US$6.2M to 2027 as previously reported by the Company on June 2, 2023.\"We are beginning to see distribution agreements translate into firm sales with Mexico as we complete our second sale in 2023,\" commented Karen Dunlap, Chief Commercial Officer of NuGen. \"Over the past several months, we have worked very closely with Juan's team at Science-Link providing the necessary support to be able to complete this sale, and to now grow sales further in 2024 and beyond with Science-Link as our key distributor in Mexico, which is a very large and significant market for us. As NuGen's Chief Commercial Officer, I am very confident with Juan and Science-Link and their ability to deliver!\" \"We are delighted to be the lead distributor of InsuJet™ in Mexico and think that InsuJet™ will improve life for many diabetics making their daily treatment less traumatic, and simply easier to administer insulin daily,\" commented Mr. Juan Feregrino, Chairman of Science-Link. \"As well, an important positive impact is the reduction of hazardous waste and accidental needle infections from the reduction of syringe disposal. As InsuJet's™ lead distributors for Mexico, we are committed and excited for this development in diabetic care and for many other app...