BIOCORP Signs With HRA Pharma for the Development of a Medical Device Innovation

ISSOIRE, France--(BUSINESS WIRE)--Regulatory News:

BIOCORP (FR0012788065 – ALCOR / Eligible PEA PME) (Paris:ALCOR), a French company specialized in the design, development, and manufacturing of innovative medical devices, announced today the signature of a contract with HRA Pharma (an affiliate of the global consumer self-care leader Perrigo Company plc). This agreement concerns the development and industrialization of an innovative medical device aiming to provide instant relief and faster healing of skin injuries.

After an initial concept and feasibility study conducted by BIOCORP, the two parties entered into an initial development agreement to design, test and validate a device in compliance with MDR (E.U. Medical Device Regulation) and FDA (U.S. Food and Drug Administration) requirements. BIOCORP will oversee the industrialization of this new device and the qualification of the manufacturing, filling, and packaging services within its plant in Issoire.

According to the terms of the exclusive agreement, worth in the lower single-digit millions region, BIOCORP will receive an initial milestone payment this year, followed by further payments based on progress from 2024 onwards.

Eric Dessertenne, CEO of BIOCORP, declared: "This new industrial agreement highlights all of BIOCORP's expertise, namely our historical core business - plastic injection, pharmaceutical filling and packaging - with our more recent skills in electronics and connected health. We are very proud that HRA Pharma, provider of a world-renowned brand of dressings, has chosen us for the development of a new innovation. “

ABOUT BIOCORP
Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This smart sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of patients with diabetes. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 80 employees.
BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR). For more information, please visit www.biocorp.fr.

Disclaimer
This press release is for information purposes only. This press release does not constitute, and shall not be deemed to constitute, an offer to the public, an offer to subscribe, an offer to sell or a solicitation of interest in a transaction by way of public offering of financial securities in any jurisdiction.
Financial securities may be offered or sold in the United States only pursuant to registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to an exemption from such registration requirement. The securities of the Company that are the subject of this press release have not been and will not be registered under the Securities Act, and the Company does not intend to conduct a public offering of the securities that are the subject of this press release in the United States.
The release, publication, or distribution of this press release in some countries may violate applicable laws. The information contained in this press release does not constitute an offer of securities in France, the United States, Canada, Australia, Japan or any other country. This press release may not be published, transmitted, or distributed, directly or indirectly, in the United States, Canada, Australia or Japan.