BIOCORP is a French company specializing in the development and manufacturing of medical devices and smart drug delivery systems. Today the company announced that they entered into an exclusive negotiation with SANOFI, a worldwide leader 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 leader 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.”