BIOCORP to receive upfront payment of 4 M€ Issoire
BIOCORP a French company specializing in the development and manufacturing of medical devices and smart drug delivery systems, announces that they have entered into an exclusive negotiation with SANOFI, a worldwide within the pharmaceutical industry, aimed at introducing their Mallya connected device into SANOFI’s integrated diabetes care platform.
Mallya is a smart sensor cap that clips onto an injection pen enabling automatic recording and transmission of dosage information via a dedicated mobile application. Mallya is the only connected device for injection pens which has been evaluated to meet the accuracy requirements needed for a CE Class IIb medical device designation by the European regulatory authorities. Under the terms of these exclusive negotiations, BIOCORP will get an initial payment of €4 million from SANOFI to support related development activities.
Eric Dessertenne, Chief Operating Officer of BIOCORP, said: “This exciting first step towards a partnership with Sanofi, one of the three largest diabetes care companies, confirms our position as the world in connected devices. For us, this is a result of the promises we have made to our shareholders, employees and partners since our initial public offering in 2015. We are proud to bring a breakthrough device to the market to improve the daily lives of patients with diabetes. We believe our innovative Mallya has great potential to become the standard in its class and should contribute significantly, and in a short time, to our very strong growth.”
Founded in 2004 in Issoire (near Clermont-Ferrand), France, BIOCORP is a French company specializing in the development and manufacturing of medical devices and innovative drug delivery systems. It is listed as ‘Innovative Company’ by the French public investment bank Bpifrance. With over twenty years of experience and more than 30 manufactured products, BIOCORP is a key player in the industry, providing drug delivery solutions that meet the evolving needs of patients. BIOCORP continues to innovate in medical plastics, its core business, and to market traditional devices (alternative to aluminum capsules, syringe and vial administration systems) that have been an important source of recurring income. Its solid expertise and capacity to innovate have allowed the company to develop new Internet-connected products, including MallyaTM, a smart cap for pen injectors that captures injection data and automatically transmits data to a mobile app, helping patients to manage their treatment. The company has a team of 45 employees. BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR). For more information, please visit www.biocorpsys.com Follow us on Twitter @BIOCORPSystems
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