BIOCORP (Paris:ALCOR) (FR0012788065 – ALCOR / Eligible PEA PME), a French company specializing in the development and manufacturing of medical devices and smart drug delivery systems, announces today the signature of a worldwide partnership agreement with SANOFI for the use of Mallya technology, a connected device for insulin pens.
This long-term agreement is the first decision resulting from exclusive negotiations initiated in July 2019. SANOFI and BIOCORP are thus fulfilling today their ambition to enter into a long-term partnership in the diabetes area.
The agreement covers two main points:
– Sanofi acquires the rights to a non-exclusive distribution of Mallya in its current version worldwide, starting in 2020.
– BIOCORP is committed to develop a specific and exclusive version of Mallya for SoloStar, SANOFI’s insulin pen.
As a result of the agreement, Sanofi is to pay BIOCORP a further €2 million upon signature of the contract (last July, BIOCORP received a first payment of €4 million). In addition, a third payment of €1.5 million is expected in 2020 when Mallya is effectively launched on the market.
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BIOCORP will produce the Mallya devices at its production plant in Issoire, France.
Éric Dessertenne, Chief Operating Officer of BIOCORP, commented: “The expected and now confirmed signature of this contract provides a huge satisfaction to BIOCORP’s team. It confirms the promise of a long and successful partnership with SANOFI. As previously mentioned, Mallya has the potential to be a blockbuster thanks to the competitive advantages it brings to patients in monitoring the follow-up of their diabetes. Thanks to SANOFI’s global reach, this device will help improve compliance for the largest number of patients with diabetes. We are pleased to have our expertise recognized by a world leader in Life Sciences and are convinced that this is only the first step in
Mallya’s history.”
Source: Bloomberg
