Valeritas (NSDQ:VLRX) said today that it inked an exclusive distribution deal with AMSL Diabetes and NZMS Diabetes for the commercialization of its V-Go wearable insulin delivery device in Australia and New Zealand.
According to the terms of the agreement, AMSL Diabetes and NZMS Diabetes retain the right to promote, market and sell the V-Go device to clinics and patients, while Valeritas remains responsible for regulatory and manufacturing activities. Financial terms of the deal were not disclosed.
“We are excited to offer the V-Go wearable insulin delivery device to patients with Type II diabetes in Australia and New Zealand, and thrilled to be partnered with AMSL and NZMS Diabetes,” president & CEO John Timberlake said in prepared remarks. “Our decision to partner with AMSL and NZMS Diabetes was driven by our goal of choosing the best distributor in Australia and New Zealand.”
“Adding V-Go to our portfolio is a significant step towards addressing the needs of Australian and New Zealand patients with Type II diabetes who want simple and effective insulin management that doesn’t interfere with their way of life,” Richard Plowright, managing director of AMSL and NZMS, added.
VLRX shares were up 19.4% in premarket activity today, trading at $1.48 apiece.