- The exclusive agreement between the two companies is for a period of 10 years
- Estimated turnover: more than €10 million over 10 years
- BIOCORP invests 600 K€ in a new fully automated production line dedicated to this new health device
ISSOIRE, France--(BUSINESS WIRE)--#digitalhealth--Regulatory News:
BIOCORP (FR0012788065 - ALCOR / Eligible PEA PME), a French company specializing in the development and manufacturing of medical devices and smart drug delivery systems, announces today the signature of an exclusive contract with VITROBIO PHARMA, a pharmaceutical research and development company.
VITROBIO registered recently a new generation of polymeric drugs representing a potential market of several tens of millions of units. This new medical device required nearly twenty years of R&D and is the first drug able to inhibite the harmful effects of pollution causing respiratory distress syndrome. The product acts as a barrier on the nasal surface and prevents contact with pollutants and allergens, while eliminating histamines and harmful proteins through mechanical action, without any side effects.
The strategic partnership was signed by BIOCORP and VITROBIO for an exclusive 10-year period. It will begin with the manufacturing of the first treatment against the harmful effects of allergy and pollution on the respiratory tract. BIOCORP will thus ensure the filling of nasal sprayers on behalf of VITROBIO.
"VITROBIO is the first company in the world to develop a treatment against the harmful effects of allergy and pollution on the respiratory tract, especially asthma, without any side effects, representing a global market of several million units. We needed a reliable partner at our side, which is why we chose BIOCORP. The geographical proximity of our two production sites is a real advantage and promises a successful long-term partnership to meet this global demand under optimal conditions," commented Ravi Shrivastava, founder and president of VITROBIO.
Éric Dessertenne, Chief Operating Officer of BIOCORP, commented: "We are delighted to sign this new production contract on behalf of third parties. This is a BIOCORP's historical activity and it is still growing strongly. Our collaboration with VITROBIO, a company based in Issoire like us, represents a tremendous industrial and commercial opportunity considering the global challenge of pollution and the risks it poses to everyone’s health. The target market for such a product is promising and several international pharmaceutical companies are already ready to distribute this new product. We are therefore expecting a turnover of at least €1 million per year“.
BIOCORP has decided to invest 600,000 euros in the acquisition of a new fully automated manufacturing unit. This new production line, which will be operational as of January 2020, will enrich the existing industrial park. A return on investment is expected within 2 or 3 years.
Founded in 2004 in Issoire (near Clermont-Ferrand), France, BIOCORP is a French company specializing in the development and manufacturing of medical devices and innovative drug delivery systems. It is listed as ‘Innovative Company’ by the French public investment bank Bpifrance. With over twenty years of experience and more than 30 manufactured products, BIOCORP is a key player in the industry, providing drug delivery solutions that meet the evolving needs of patients. Today, BIOCORP continues to innovate in medical plastics, its core business, and to market traditional devices (alternative to aluminum capsules, syringe and vial administration systems) that have been an important source of recurring income. Its solid expertise and capacity to innovate have allowed the company to develop new Internet-connected products, including MallyaTM, a smart cap for pen injectors that captures injection data and automatically transmits data to a mobile app, helping patients to manage their treatment. The company has a team of 45 employees. BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR).
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