Business
NuGen Announces a $5.8M, 5-Year Distribution Agreement with Khotwa Medical Co. for its InsuJet(TM) Needle Free Injection Device and Accessories
NuGen and Khotwa Providing Access to Safe and Effective, Needle Free Injections to a World Pla...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen Announces a $5.8M, 5-Year Distribution Agreement with Khotwa Medical Co. for its InsuJet(TM) Needle Free Injection Device and AccessoriesNuGen and Khotwa Providing Access to Safe and Effective, Needle Free Injections to a World Plagued with DiabetesToronto, Ontario--(Newsfile Corp. - November 30, 2021) -  NuGen Medical Devices (TSXV: NGMD) (\"NuGen\" or the \"Company\") is pleased to announce that it has entered into a partnership with Khotwa Medical Co. (\"Khotwa Medical\"), a medical device distributor in the Middle East, for distribution of its InsuJet needleless injector and accessories, with minimum annual sales commitments representing over 35% of the Company's first year internal objectives and a total of CAD$5.8M over the 5-year term. The distribution agreement covers the Kingdom of Saudi Arabia, Jordan, Iraq, as well as the United Arab Emirates & Bahrain.\"We are very pleased to have partnered with Khotwa Medical to provide our needleless injection devices to the people of the Middle East,\" said Michael Wright, CEO of NuGen M.D. \"These regions have some of the highest prevalence of diabetes on the planet and we feel that our technology has the ability to not only significantly improve the lives of those living with diabetes, but eventually, also anyone that requires any kind of medical injection. This partnership is just the first step towards our goal of global distribution of our needleless device technology and represents an important step of achieving our 2022 targets.\" Madiouf Elfarra, B. Pharm, R. Ph., Director of Business Development of Khotwa Medical said: \"We are excited to be partnering with NuGen Medical Devices in this project and we are looking forward to contribute to the mission of reaching as many patient that suffer from chronic conditions and making InsuJet™ the first choice for injecting Insulin for all Diabetics around the world. We consider InsuJet™ as a cornerstone of our healthcare innovation portfolio that will change the market and will improve the life quality for our users. This device has the ability to revolutionize the way people receive medical injections and materially improve the quality of life for diabetics in the Middle East and around the globe,\"About The InsuJet: The InsuJet is a revolutionary needle-free drug delivery device, to self-administer med...