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NuGen Medical Devices Inc. - NGMDF STOCK NEWS

Welcome to our dedicated page for NuGen Medical Devices news (Ticker: NGMDF), a resource for investors and traders seeking the latest updates and insights on NuGen Medical Devices stock.

NuGen Medical Devices Inc. (symbol: NGMDF) is a leading developer of needle-free devices for subcutaneous therapeutic administration. The company's flagship product, InsuJet™, is revolutionizing diabetes care by providing a needle-free injection system approved for sale in 42 countries. With recent expansions of distribution partnerships in Belgium, Mexico, and several other countries, NuGen is making significant strides in improving the lives of millions of diabetics worldwide. The company's focus on strategic commercialization and high-quality manufacturing relationships positions it for continued growth and success in the medical technology industry.

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NuGen Medical Devices (TSXV: NGMD) announced a non-brokered private placement of up to $10 million in secured convertible debentures. The debentures mature in five years and bear a 12% annual interest rate, payable at maturity. They are secured by the company's assets and can be converted into units priced at $0.075 each, which include one common share and a purchase warrant exercisable at $0.12 for five years. Proceeds will fund working capital, production expansion, and order fulfillment. Sol-Millennium Medical Group is expected to become a controlling shareholder, pending approval at NuGen's August 20, 2024 shareholder meeting.

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NuGen Medical Devices has announced a partnership with Wholehealth Pharmacy Partners and Sol-Millennium Medical Group to develop retail pharmacy training materials in Canada. This initiative aims to enhance sales and market penetration of NuGen's needle-free device, InsuJetTM, by training pharmacists in major Canadian pharmacy chains. The training program, set to launch in September 2024, will provide educational resources and support to pharmacists, ensuring they can effectively promote and administer InsuJetTM. This collaboration aligns incentives for pharmacists with training reimbursement fees, fostering patient adoption of the technology.

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NuGen Medical Devices has announced the successful completion of sales and clinical training for its needle-free device, InsuJet, with Sol-Millennium Medical in Brazil. This marks a key step for introducing InsuJet into the Brazilian market, a significant growth target given its population of over 200 million. The training, completed on June 26, 2024, follows recent purchase orders for Canada and Europe, underscoring NuGen's expanding global footprint. CEO Ian Heynen anticipates imminent purchase orders, highlighting the importance of this development in NuGen's South American strategy.

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NuGen Medical Devices announced a repeat order from Rosheta for 1,100 InsuJet™ units and consumables, valued at $147,000, to meet increasing demand in Yemen. This order represents a 37.5% increase from the initial order of 800 units placed in January 2024. The gross margin contribution on this sale is $102,900. Rosheta's marketing plan aims to expand nationwide distribution of InsuJet™, a needle-free injector. CEO Ian Heynen praised Rosheta's efforts to penetrate the Yemeni market through clinical marketing strategies at both pharmacy and physician levels.

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NuGen Medical Devices announced an initial purchase order from Sol-Millennium for 3,832 InsuJet injectors and consumables, destined for pharmacies in Canada and Switzerland. This order, worth $801,000, will generate a gross margin of $448,000 for NuGen, more than double its total revenue for fiscal year 2023. Deliveries are scheduled for August through September 2024, with 3,282 units allocated to Canadian pharmacies and 550 units to Swiss pharmacies. This significant order reflects growing market demand and NuGen's accelerating growth.

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NuGen Medical Devices (TSXV: NGMD) released its Q1 2024 financial results, meeting management's expectations. The company focused on preparing its new distribution channels in major markets including Canada, Europe, Brazil, and Mexico. Post-Q1, NuGen renegotiated its long-term debt, improving its balance sheet. The company aims for growth in InsuJetTM sales, driven by patient awareness, distribution expansion, and clinical community education. New distribution partners in Thailand, Argentina, Colombia, Peru, and Costa Rica were appointed. NuGen's CEO Ian Heynen, who joined in November 2023, emphasized the company's potential and strategic efforts for 2024.

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NuGen Medical Devices Inc. announces a debt settlement of €275,000 with Care4Pharma B.V. through the issuance of 2,000,000 common shares at $0.20 per share. The company also extends payment obligations under the Share Purchase Agreement, allowing repayment of €1,200,000 by November 8, 2026, with an additional payment of €275,000 due after a financing round of C$3,500,000. CEO Ian Heynen expresses satisfaction with the agreement, emphasizing strategic growth opportunities.
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NuGen Medical Devices Inc. announces that Sol-Millennium Medical Inc.'s global sales & marketing team has completed in-depth clinical training of NuGen's needle-free InsuJet™ medical device for sales and marketing throughout Europe. The training aims to facilitate sales in the diabetic markets in France and Spain. European order forecasts are expected soon, with first orders arriving before the end of Q1 2024. The company anticipates a positive relationship with Sol-M, with plans to go to market with the co-branded InsuJet™ needle-free medical device and consumables in 2024.
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NuGen Medical Devices Inc. reports that its distribution partner in Mexico, Science-Link Trading SAPI de CV, has expanded their distribution network to include Argentina, Chile, Costa Rica, and Peru. Science-Link is now partnering with a large family-owned laboratory and clinic conglomerate which is expected to see Science-Link expand its operations into big box retail pharmacies in Mexico. The company expects to exceed the target of 5,000 needle-free injectors and consumables in 2024. The estimated adult diabetic population in Mexico grew to 14 million patients in 2021, with 1 in 6 adults now living with diabetes. Diabetes-related health expenditure in Mexico has reached USD $20 billion.
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NuGen Medical Devices Inc. (TSXV: NGMD) announces Verrue Consulting Group BV as an official distributor for its needle-free InsuJet™ device in Belgium, with estimated sales of $2.4 million and a gross margin of 72% over a 5-year term.
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FAQ

What is NuGen Medical Devices Inc. known for?

NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously, with their flagship product, InsuJet™, approved for sale in 42 countries.

In which countries is InsuJet™ available for sale?

InsuJet™ is approved for sale in 42 countries around the world, including Belgium, Mexico, Canada, Europe, and Brazil.

What recent achievements has NuGen Medical Devices Inc. made?

NuGen recently expanded distribution partnerships in Belgium, Mexico, Argentina, Chile, Costa Rica, and Peru, indicating significant growth and market penetration.

How does NuGen Medical Devices Inc. aim to improve diabetes care?

NuGen's focus on strategic commercialization and high-quality manufacturing relationships allows the company to enhance diabetes care by providing needle-free solutions and improving patient outcomes.

What are NuGen Medical Devices Inc.'s goals for the future?

NuGen aims to continue driving growth and success in the medical technology industry by expanding its global presence, increasing market share, and focusing on innovation in therapeutic administration.

NuGen Medical Devices Inc.

OTC:NGMDF

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20.84M
199.20M
7.59%
Medical Devices
Healthcare
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United States of America
Toronto