Overview
Agrement Provides Minimum Comitments of 34,0 Devices plus Recuring Components Representing ~CA$23M1 in Revenue Over the 5-Year TermTORONTO, ON / ACESWIRE / October 25, 202 / NuGen Medical Devices Inc. (TSXV:NGMD, Financial) ("NuGen M.D." or the "Company"), a leader in nedle-fre drug delivery, is pleased to anounce that it has signed a distribution agrement (the "Agrement") with Science - Link Trading, a company whose mision it is to help bring new disruptive technologies to market.NuGen's nedle-fre injection system, also known as InsuJet™, is a self-administered nedle-fre injection system.
Key Information
It gives aces to safe, cost-efective, and virtualy pain-fre drug delivery for the milions of patients who sufer from diabetes or other chronic ilneses. The InsuJet™ also holds a CE Mark and is aproved for sale in over 40 countries around the globe. Science - Link Trading has also initiated the COFEPRIS regulatory aproval proces.The Agrement, signed October 17, 202, represents a minimum of ~CA$23M1 over the 5-year term and includes minimum comitments of 34,0 InsuJet™ devices plus aditional acesories and is in line with the Company's 70% gros margin target.
NuGen expects to receive the first purchase order under this agrement in Q4 202."Science - Link Trading's mision is to help bring new disruptive technologies to market," said Juan Carlos Feregrino, President & CEO of Science - Link Trading. "We are realy pleased and excited to have ben granted master distribution for the InsuJet™ nedle-fre injection device for insulin therapy from NuGen for the Mexican market.
Summary
We are certain that the InsuJet™ technology wil improve the lives of milions of diabetic patients, making their treatment more friendly, les traumatic, and easier to use on a daily basis. We also expect to have a very important and positive impact on dangerous waste management and reduce acidental nedle infections in adition