Business
NuGen M.D. Signs Exclusive Sales and Distribution Deal with Leading Global Healthcare Company Sol-Millenium for Canadian and Brazilian Diabetes Market
Includes Initial Purchase Order for 500 Needle-Free Devices and Minimum Commitment of 13,500...
About this update from Nugen Medical Devices Inc
[{"type":"text","content":"NuGen M.D. Signs Exclusive Sales and Distribution Deal with Leading Global Healthcare Company Sol-Millenium for Canadian and Brazilian Diabetes MarketIncludes Initial Purchase Order for 500 Needle-Free Devices and Minimum Commitment of 13,500 DevicesTORONTO, ON / ACCESSWIRE / July 5, 2022 / NuGen Medical Devices Inc. (TSXV:NGMD) (\"NuGen'' or the \"Company\"), a leader in needle-free drug delivery, is pleased to announce a five-year exclusive sales and distribution agreement (the \"Agreement\") with 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.Sol-M is a global entity with offices throughout the world and operates two state-of-the-art manufacturing and R&D Centers in Lugano, Switzerland and Shanghai, China and has a global presence with additional offices in Sao Paulo, Brazil, Warsaw,Poland and Atlanta, Georgia, USA. Originally a leading producer of plastic molds for the global medical industry, Sol-Millennium was the first syringe mold producer in China and now supplies over 60% of China's syringe mold needs, as well as exporting globally.NuGen M.D.'s needle-free injection system, also known as InsuJet™, is a self-administered needle-free injection system approved by Health Canada and Brazil for general use and specifically for the delivery of Insulin. It gives access to safe, cost-effective, and virtually pain-free drug delivery for the millions of patients who suffer from diabetes or other chronic illnesses. The InsuJet™ also holds a CE Mark and is approved for sale in over 40 countries around the globe.Starting July 01st, 2002, NuGen M.D is granting Sol-Millennium exclusive rights to promote, sell, and distribute the NuGen needle-free injection device known as InsuJet™ for the injection of insulin treatments in humans in Canada and Brazil. In return, the distributor undertakes to exclusively represent the NuGen product line of needle-free devices for use in humans in Canada and Brazil.The first 2.5 years of the 5-year agreement has minimum commitments of 750 devices plus components in 2022, 5,000 devices plus components in 2023, and 8,000 devices plus components in 2024 for a total of 13,7...