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Cellnovo. (6/14/18). "Press Release: Cellnovo Announces the Commercialisation of Insulin Cartridges Following the Successful Start of Large-scale Manufacturing at the Flex Facility in Althofen, Austria". Paris.

Region Region Austria
Organisations Organisation Cellnovo Group S.A. (Euronext: CLNV)
  Group Cellnovo (Group)
  Organisation 2 Flex, production plant Althofen, Austria
  Group Flextronics (d/b/a Flex) (Group)
Products Product Cellnovo Diabetes Management System
  Product 2 contract manufacturing (diagnostics)
Index term Index term Cellnovo–Flextronics: contract manufacturing, 201801 supply existent production of Cellnovo Diabetes Monitoring System + Cartridges by Flex
Persons Person Humphries, Paul (Flextronics 201806 President High-reliability Solutions)
  Person 2 Baratte, Sophie (Cellnovo 201602 CEO)
     


Current patients using mass-produced cartridges Large-scale production capacity secured Company ready to respond to sustained market demand


Cellnovo Group (“Cellnovo” or the “Company” -- CLNV: EN Paris), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, today announces the commercialisation of insulin cartridges produced by Flex following the successful start of large-scale manufacturing in Althofen, Austria. Sophie Baratte, Chief Executive Officer of Cellnovo, commented: “This milestone marks a major turning point for the Company as we are no longer constrained by limited production capacities that have heavily restricted our sales. We can now focus on the commercial lift off of our unique diabetes management system to serve a multi-billion-dollar market.

The Flex-made cartridges are in the hands of existing Cellnovo System users. These cartridges, combined with the superior accuracy of our system, and its real-time connectivity, offer a highly competitive solution to respond to a strong demand. We anticipate a positive impact on our sales over the coming months.”

Paul Humphries, President, High-Reliability Solutions at Flex, commented: “We are pleased to have successfully completed the last phase of the validation process for the Cellnovo insulin cartridge. This is a significant milestone in our relationship with Cellnovo and now allows for large-scale production.”

Flex’s industrial manufacturing site in Althofen, operating at full capacity, will provide Cellnovo with a 12-fold increase in insulin cartridges produced annually.

The scalability of the Flex production system enables rapid expansion of the Company’s manufacturing capacity. The creation of a second production line in Romania, a copy of the one in Althofen, will be completed in H1 2019 enabling a further increase in production capacity.

Cellnovo has established an international commercial network in ten countries, with a direct sales team in the United Kingdom and France, and in partnership with Air Liquide subsidiaries in other European countries such as Italy, The Netherlands and Spain. In Australia, New Zealand, Israel, Greece, and Cyprus, Cellnovo is working with distributors who have substantial knowledge of the local diabetes markets. The Cellnovo System is reimbursed in all countries. The Company will now focus on developing sales through this network and continue to make its product accessible, globally, through additional distribution agreements.

•••


About Cellnovo (Euronext: CLNV)

An independent medical technology company specialising in diabetes, Cellnovo has developed and markets the first mobile, connected, all-in-one diabetes management system that helps make life easier for patients. Compact, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with an integrated blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real time. Cellnovo is currently participating in several major Artificial Pancreas projects with Diabeloop, TypeZero and Horizon 2020 to develop automated insulin delivery systems. For more information go to www.cellnovo.com


About the Cellnovo Diabetes Management System

Compact, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with a blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real time.

Cellnovo is listed on Euronext, Compartment C ISIN: FR0012633360 – Ticker: CLNV)


Cellnovo

Chief Executive Officer
Sophie Baratte
investors@cellnovo.com


NewCap

Investor Relations
Tristan Roquet Montégon
+ 33 1 44 71 00 16
cellnovo@newcap.eu


NewCap

Media Relations in France
Nicolas Merigeau
+ 33 1 44 71 94 98
cellnovo@newcap.eu

   
Record changed: 2018-06-20

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