Biocorp (PAR:ALCOR) said today that it inked a deal for its NewGuard safety syringe technology with “a leading global player specializing in pharmaceutical products” that it’s not allowed to name.
The Issoire, France-based company said the deal call for it to integrate and commercialize the NewGuard technology into the pharma partner’s pre-filled heparin syringes, saying the partner is the #2 player in the heparin space.
“This collaboration, which is expected to include more than 150 million NewGuard units, should earn Biocorp 10s of millions of euros in revenue by 2020-2022,” the company said.
Manufacturing is slated to begin after a nine-month evaluation phase to assess the deal’s sustainability and clarify its conditions, Biocorp said.
“We are delighted and honored to have signed this partnership. This first strategic collaboration with a global pharmaceutical giant is a true recognition of our know-how and expertise in improving the delivery of drugs. This is a new strategic step for Biocorp, which is about to become, thanks to this agreement, a key global player in safety medical devices,” COO Eric Dessertenne said in prepared remarks.
NewGuard is a passive safety device that uses a rigid needle shield and is designed to be compatible with a variety of filling, sterilization and packaging processes, Biocorp said.
ALCOR shares closed up 1.9% at €10.70 (about $12.69) apiece today in Paris.
($1 = €0.842946)
