NuGen Medical Devices Inc. (TSXV: NGMD) (the “Company” or “NuGen“) is a leading developer of needle-free devices to administer therapeutics subcutaneously.
No more needle phobia.
NGMD’s products also increase the number of therapeutics that can be directly administered by the patient.
The most recent news was a relationship with Sol-Millennium Medical for the distribution of NGMD’s Insujet delivery system.
“Well-attended sessions with outstanding interactions from Sol-M sales representatives enabled me to share our experiences and clinician and patient feedback of the InsuJetTM system to help the Sol-M team to drive sales and product adoption in their target markets throughout Europe,” commented Louise Cresswell, NuGen’s VP of Sales & Marketing. “The engagement and outcome with Sol-M were overwhelmingly positive, with fulfillment set to achieve and perhaps even exceed expectations. I am very, very pleased,” said Creswell.
Salient Points of the Needle-Free Technology
- Significantly reduces or even eliminates biohazardous accidents.
- 463 million diabetics globally, sometimes multiple insulin shots per day.
- Veterinary less traumatic ‘injections’
- Hormone Therapy injectable
- combat chronic diseases.
NuGen’s distributor relationship with Sol-M goes back a year;
Sol-M is now the preferred distributor of InsuJet™ in Canada, Brazil, France and Spain, where Sol-M has an extensive existing business footprint in the safety syringe and the diabetic supply business and where InsuJet™ is approved for sale as a medical device. Sol-M must fulfill minimum yearly purchases to maintain its five-year distribution rights, which NuGen estimates to be approximately 132 million dollars. (2023).
One of many impressable health tech data points is the therapy addressable diabetic market of these four countries, estimated to be $7.923 Billion based upon a $ 900-lifetime value of InsuJet (For each InsuJet ™ device sold, the lifetime value per unit including consumables to be purchased over approximately 3.5 years is roughly $900.)
Great technology, simple to understand and an almost limitless market potential.
Here’s all you’ll need to know to decide whether NuGen will be a painless medical device producer and potentially a painless investment.
InsuJet fills a gigantic medical need and addresses pervasive social anxiety. Good combo.
Posted on Behalf of NuGen Medical
