기업
EOFlow Contracting European Exclusive Sales Agreement with Menarini for ‘EOPatch’
by Jongwon Jang
Supplies to diagnostic subsidiaries worth of 150 billion won for five years..European CE will be acquired in the first half of next year.
EOFlow is launching wearable insulin pump “EOPatch” in European market through partnership with Italian global pharmaceutical company, Menarini. EOPatch is a wearable (attachment type) device of insulin pump that was developed based on EOFlow’s “high-performance electroosmotic pump” technology and is able to supply insulin for up to 3.5 days with just one time attachment.
EOFlow said on Thursday that they have signed a contract with Menarini Diagnostics to exclusively sell EOPatch in Europe. It is a sales contract worth 150 billion won for five years.
Menarini Diagnostics is a diagnostics subsidiary of Menarini, a large Italian pharmaceutical group, with a diagnostic network throughout Europe, including the UK, France, Germany and Sweden.
With the agreement, EOPatch will be offered as an insulin injector solution for the diabetes integration platform set up by Menarini, and will be offered to patients in conjunction with the blood glucose meters and continuous blood sugar sensors. Menarini will be responsible for sales, marketing, training and customer support for EOFlow's EOPatch in Europe and other selected areas.
However, since EOPatch is pursuing for CE certification in Europe, it is expected to be sold in full swing after first half of next year when CE certification is completed.
Jae-jin Kim, CEO of EOFlow, said, “Menarini will be distributing wearable insulin pump products in the Europe market. And their relationships with the diabetes community, health care providers and expertise in extensive distribution will help EOFlow to positively position itself in major global market.”
Pabio Piazzalunga, CEO of Menarini Diagnostics, said “We have entered into an important long-term partnership that will provide patients with powerful tools to prevent diabetes complications and manage their blood sugar. The contract is part of our strategy to develop a completely integrated innovative product portfolio to strengthen diabetes management and improve the quality of life of patients.”
Menarini and EOFlow agreed to continue to work together to commercialize innovative systems for the diabetes market.
On the other hand, EOFlow is also promoting the listing of KOSDAQ through special cases of growth potential. They are planning to request a preliminary listing in September.
