Biocorp designs, develops and manufactures drug delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors.
The Mallya smart sensor attaches directly to insulin pen injectors to make them connected devices. It automatically collects and records key treatment information, then transmits the information to a dedicated digital application. That data includes selected insulin units, date and time of injection. The FDA cleared Mallya in December 2022.
Novo Nordisk and Biocorp began collaboration on Mallya’s development and commercialization in 2021. The system pairs with the Novo Nordisk FlexTouch pen for people with diabetes. The two companies expanded their partnership to the development of Mallya versions for other therapy areas.
In June, Novo Nordisk announced the start of negotiations over a controlling stake in Biocorp.
The company said at the time that buying a controlling stake would be followed by a mandatory simplified tender offer on all remaining outstanding Biocorp shares. It valued the deal at $37.38 (€35) per share for a total equity value of approximately $164.5 million (€154 million).
The company said in June that it wanted to preserve some aspects of Biocorp while investing further in the organization.
Biocorp CEO Eric Dessertenne announced the completion of the deal in a post on LinkedIn. In the post, he included a photo of himself holding a sign that reads “Biocorp — A Novo Nordisk Company.”
“This is a huge opportunity for all our teams since we all together are “united by differences, powered by innovation,” Dessertenne wrote in the post. “I’m very proud and excited by the story we still have to write together.”