Valeritas (NSDQ:VLRX) said today that it inked an exclusive distribution deal with Tritech Biomed to commercialize its V-Go wearable insulin delivery device, designed for patients with Type 2 diabetes, in Israel.
Through the deal, the Bridgewater, N.J.-based company said that Tritech Biomed will have rights to promote, market and sell the V-Go system to diabetes clinics and patients in the region.
The V-Go device is worn like a patch and delivers a preset basal rate of insulin over the course of 24 hours. The device can also deliver on-demand bolus dosing at mealtimes, Valeritas said.
“We are excited to partner with Tritech Biomed to bring V-Go Wearable Insulin Delivery device to patients with diabetes who need insulin in Israel. There are over 600,000 adults with diabetes in Israel, and we believe V-Go can become an important tool to help patients on insulin manage their diabetes,” prez & CEO John Timberlake said in a press release.
Valeritas clarified that it will retain rights for product development, regulatory approval, quality management and manufacturing in the rgion while Tritech Biomed will be responsible for sales, marketing, customer support and distribution.
Earlier this month, Valeritas posted its fourth-quarter and full-year financial results, missing earnings estimates but topping revenue expectations on Wall Street.