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NuGen M.D. Announces the Launch of its InsuJet(TM) Needle-Free Injection Device in Canada
Sol-Millennium Launching Insujet™ at the 2022 Diabetes Canada and CSEM Professional C...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen M.D. Announces the Launch of its InsuJet(TM) Needle-Free Injection Device in CanadaSol-Millennium Launching Insujet™ at the 2022 Diabetes Canada and CSEM Professional Conference and Provides Purchase OrderTORONTO, ON / ACCESSWIRE / October 19, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD)(OTCQB:NGMDF) (\"NuGen'' or the \"Company\"), a leader in needle-free drug delivery, is pleased to announce the official launch of its InsuJet™ devices in Canada. SOL-MILLENNIUM Medical Group (\"Sol-Millennium\" or \"Sol-M\"), a global healthcare company dedicated to the design, manufacturing, and distribution of high-quality medical devices and personal protective equipment for patients and clinicians around the world, has registered as an exhibitor at the 2022 Diabetes Canada/Canadian Society of Endocrinology and Metabolism (CSEM) Professional Conference, where it will launch the InsuJet™ product for Canada. NuGen will be attending the conference to support this Sol-M initiative.\"The 2022 Diabetes Canada/CSEM Professional Conference is the premier event in Canada for professionals specializing in the treatment of diabetes and is the ideal platform to launch the InsuJet™, needle-free injection device, with our partners, Sol-M,\" said Michael Wright, CEO of NuGen. \"The team from NuGen will also be in attendance to support this milestone for the Company.\"The 2022 Diabetes Canada/CSEM Professional Conference will be held in person at the Calgary Telus Convention Centre in Calgary, Alberta and will take place during Diabetes Awareness Month from November 9 - 12, 2022. Portions of the conference will also be available virtually.To support the Canadian launch, Sol-Millenium has placed a purchase order for 250 InsuJet™ devices and components as part of their 2022 commitment of 750 starter kits. The exclusivity agreement has a larger commitment of 5,300 devices in 2023 and 8,200 devices in 2024 for a total commitment of 14,250 devices (plus components) for the initial 2.5years of the 5year term. Based on internal analysis, each device sold represents approximately CDN$650* in revenue to NuGen over the approximately three-year lifetime of a device. (See press release dated July 5th 2022.)Michael Wright, chief executive officer of Nugen Medical Devices. \"The InsuJet provides 5,000 injections of insulin, which ...