Senseonics (NYSE:SENS) said today that it expanded its exclusive distribution agreement with Roche (PINK:RHHBY) for its implantable continuous glucose monitoring system for people with diabetes. The new agreement includes all of Europe, the Middle East and Africa, excluding Scandinavia, Finland and Israel.
According to the agreement, Germantown, Maryland-based Senseonics has given Roche exclusive rights to promote, market and sell the Eversense system in specified territories. Senseonics will still be responsible for product development, regulatory approval, quality management and manufacturing, while Roche will take over commercializing the system.
The expansion builds upon an agreement signed by the 2 companies in May this year for distribution of Senseonic’s system in Germany, Italy and the Netherlands.
The Eversense continuous glucose monitor is designed to last up to 90 days. The implanted glucose sensor and wearable smart transmitter work with a mobile application to enable real-time monitoring of blood glucose levels. Senseonics submitted a premarket approval application to the FDA this September, after the system won the CE Mark in the European Union in May.
“The partnership we formed with Roche earlier this year is off to a promising start. The early success and experience that each of our teams are gaining drove the mutual decision to expand our relationship,” Senseonics president & CEO Tim Goodnow said in prepared remarks. “We are excited to add these additional countries and look forward to growing the presence of Eversense through this partnership.”