BIOCORP and MERCK Sign a Partnership in the Field of Human Growth Hormone (HGH)
- Biocorp and Merck will collaborate on the development and global distribution of a specific version of Mallya device for applications in the field of HGH
- Biocorp will receive €3 million following the completion of different milestones and additional revenues from sales.
ISSOIRE, France--(BUSINESS WIRE)-- Regulatory News:
BIOCORP (FR0012788065 – ALCOR / Eligible PEA PME), a French company specialized in the design, development, and manufacturing of innovative medical devices, and Merck, a leading science and technology company, today announce an agreement for the development and supply of a specific version of Mallya device to monitor treatment adherence in the field of HGH.
Manufactured in Clermont-Ferrand (France), Mallya is a Bluetooth enabled clip-on device for pen injectors that collects dose and time of each injection and transfers information in real time to a companion software. Mallya is the first in its category to receive the CE-mark (medical device) and commercial versions for insulin pen injectors are already available and distributed in Europe and other geographies.
Healthcare companies BIOCORP and Merck will develop a specific version for applications in the field of Human Growth Hormone. The device will help patients (children and teenagers) automatically keep track of their HGH daily injection and monitor adherence with their treatment plan.
Following the completion of different milestones, Merck will pay around €3 million for the development of the specific solution. After the development phase, BIOCORP will manufacture the commercial units on behalf of Merck, which will generate additional revenues.
Once the development Is completed, the objective Is to market the product on a Global scale
“We are very excited about this new agreement concerning Mallya. Not only are we collaborating with a new major player in the pharmaceutical industry, but we are also expanding the scope of Mallya. After the monitoring of patients living with diabetes, our medical device proves its usefulness and safety for children and teenagers undergoing growth hormone injection,” said Éric Dessertenne, CEO of BIOCORP.
ABOUT BIOCORP Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This smart sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of patients with diabetes. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 70 employees. BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR). For more information, please visit www.biocorpsys.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210915006165/en/
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