11:19:29 EST Sat 02 Dec 2023
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Nugen Medical Devices Inc
Symbol NGMD
Shares Issued 198,325,682
Close 2023-11-13 C$ 0.125
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Nugen Medical Devices gets regulatory OK in Mexico

2023-11-13 17:48 ET - News Release

Ms. Karen Dunlap reports


Nugen Medical Devices Inc. has learned that the Mexican government has completed the registration of Nugen's needle-free InsuJet injection device for sale throughout the country as a medical device.

In May, 2023, Nugen received its first bulk purchase order from Science-Link Trading SAPI de CV, a health and wellness company in Mexico, for the Mexican market for 500 units of the company's needle-free InsuJet injection device, followed by an additional 2,000 units and consumables. The purchase order for the 500 InsuJet devices is now paid in full and delivery is anticipated during the fourth quarter of 2023.

Nugen is pleased to further report its distribution agreement with Science-Link targets the sale of approximately 5,000 needle-free injectors in 2024. At target, the total transaction value for 2023 and 2024 orders is estimated to have a lifetime value of $6.2-million (U.S.) to 2027 as previously reported by the company on June 2, 2023.

"We are beginning to see distribution agreements translate into firm sales with Mexico as we complete our second sale in 2023," commented Karen Dunlap, chief commercial officer of Nugen. "Over the past several months, we have worked very closely with Juan's team at Science-Link providing the necessary support to be able to complete this sale, and to now grow sales further in 2024 and beyond with Science-Link as our key distributor in Mexico, which is a very large and significant market for us. As Nugen's chief commercial officer, I am very confident with Juan and Science-Link and their ability to deliver!"

"We are delighted to be the lead distributor of InsuJet in Mexico and think that InsuJet will improve life for many diabetics making their daily treatment less traumatic, and simply easier to administer insulin daily," commented Juan Feregrino, chairman of Science-Link. "As well, an important positive impact is the reduction of hazardous waste and accidental needle infections from the reduction of syringe disposal. As InsuJet's lead distributors for Mexico, we are committed and excited for this development in diabetic care and for many other applications that InsuJet potentially brings."

Mexico is a large diabetes market globally as an estimated one in six adults are now living with diabetes.

In 2021, the estimated adult diabetic population grew to 14 million patients -- a rise of 10 per cent in the last two years. Diabetes-related health expenditure in Mexico has reached $20-billion (U.S.), putting it in the top-10 countries or territories with the highest total health expenditure.

About Science-Link Trading SAPI de CV

Science-Link Trading is dedicated to bringing disruptive technologies to the market. The company was founded by experienced professionals with over 60 years of combined expertise in the health, wellness and agribusiness sectors. Its mission is to become the leading company in Mexico for the commercialization and distribution of new health and wellness disruptive technologies within the next five years. It will be utilizing a network of subdistributors to effectively penetrate and position InsuJet in all 32 States of Mexico, covering both traditional and modern channels. Additionally, the company is implementing digital funnels to accelerate awareness and generate qualified leads for potential customers, further supporting distribution efforts.

About Nugen Medical Devices Inc.

Nugen is a specialty medical device company that is marketing and selling its next-generation InsuJet needle-free injection system designed to improve the lives of millions of diabetics. InsuJet is approved for sale in 42 countries around the world.

We seek Safe Harbor.

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