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NuGen Announces Strategic Partnership with EziAutoJector Limited
5,000 InsuJet devices to be delivered to the UK Toronto, Ontario--(Newsfile Corp. - October 25, ...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen Announces Strategic Partnership with EziAutoJector Limited5,000 InsuJet devices to be delivered to the UKToronto, 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 $645,000 and a gross margin contribution on the original sale of $387,000. NuGen anticipates receiving additional orders from EziAutoJector during the balance of 2025 of both the injector and consumables.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 Offic...