NuGen Medical Devices Inc. develops needle-free devices for subcutaneous drug delivery, centered on the InsuJet™ system for insulin administration and related consumables. Company news commonly covers commercialization of InsuJet and EziAutoJector® through distributors and pharmacy channels, product availability in markets such as France and the United Kingdom, and medical-device regulatory updates tied to national approvals and licensing.
NuGen updates also include research and development for prefilled and cartridge-based needle-free injection formats, patent activity for Ready-to-Fill COP/COC nozzles and the Prefilled Nozzle platform, annual financial results, and governance changes involving financial reporting functions.
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NuGen Medical Devices Inc. has closed the first tranche of a non-brokered private placement, issuing 2,500,000 units at $0.05 each, raising $125,000. Each unit consists of one common share and a warrant, allowing purchase of additional shares at the same price for 60 months. Proceeds will support general working capital. The offering is subject to regulatory approvals, with potential for further financing up to $2,875,000 by January 23, 2023. The company also granted 2,000,000 options to a consultant, exercisable at $0.05 for five years.
NuGen Medical Devices Inc. (TSXV:NGMD)(OTCQB:NGMDF) announces the departure of Michael Wright as President and CEO, effective immediately. He will continue as a director and shareholder, aiding in the transition. Karen Dunlap is appointed as Interim Chief Customer Officer and Derek Lindsay as Interim CEO. Both bring extensive experience in medical technology and business management. The company is restructuring to expedite development and plans to share a revised strategic plan with stakeholders soon. The Board believes these changes will enhance the reach of InsuJet, the company’s needle-free diabetes product.
NuGen Medical Devices has officially launched its InsuJet™ needle-free injection devices in Canada during the 2022 Diabetes Canada/CSEM Professional Conference. Partnering with Sol-Millennium Medical Group, NuGen received a purchase order for 250 InsuJet™ devices, part of a commitment for 750 starter kits in 2022. Future agreements include a total of 14,250 devices over 2.5 years. Each device is estimated to generate approximately CDN$650 in revenue. The InsuJet™ aims to reduce healthcare costs and environmental impact by replacing traditional needles.
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NuGen Medical Devices (TSXV:NGMD)(OTCQB:NGMDF) has appointed Erik Emerson to its Advisory Board. With over 20 years of experience in pharmaceuticals and biotechnology, Emerson has held leadership roles at various organizations, including Mezzion Pharmaceuticals and Gilead. He has a proven track record in commercialization and product launches, notably with the launch of Letairis for pulmonary hypertension. NuGen continues to develop needle-free delivery technologies aimed at improving healthcare outcomes across multiple fields, including diabetes and veterinary medicine.