BIOCORP Signs With HRA Pharma for the Development of a Medical Device Innovation
ISSOIRE, France--(BUSINESS WIRE)--#digitalhealth--Regulatory News:
BIOCORP (FR0012788065 – ALCOR / Eligible PEA PME) (Paris:ALCOR), a French company specialized in the design, development, and manufacturing of innovative medical devices, announced today the signature of a contract with HRA Pharma (an affiliate of the global consumer self-care leader Perrigo Company plc). This agreement concerns the development and industrialization of an innovative medical device aiming to provide instant relief and faster healing of skin injuries.
After an initial concept and feasibility study conducted by BIOCORP, the two parties entered into an initial development agreement to design, test and validate a device in compliance with MDR (E.U. Medical Device Regulation) and FDA (U.S. Food and Drug Administration) requirements. BIOCORP will oversee the industrialization of this new device and the qualification of the manufacturing, filling, and packaging services within its plant in Issoire.
According to the terms of the exclusive agreement, worth in the lower single-digit millions region, BIOCORP will receive an initial milestone payment this year, followed by further payments based on progress from 2024 onwards.
Eric Dessertenne, CEO of BIOCORP, declared: "This new industrial agreement highlights all of BIOCORP's expertise, namely our historical core business - plastic injection, pharmaceutical filling and packaging - with our more recent skills in electronics and connected health. We are very proud that HRA Pharma, provider of a world-renowned brand of dressings, has chosen us for the development of a new innovation. “
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 80 employees.
BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR). For more information, please visit www.biocorp.fr.
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