Biocorp, a French medical device company, recently received $4.5 million to further develop and integrate their Mallya smart cap for insulin pens into Sanofi’s Integrated Diabetes Care platform, reports Close Concerns. The news came shortly after Biocorp announced that Mallya received a CE mark as a class IIb medical device, making it the only device given this new regulatory designation.
“This exciting first step towards a partnership with Sanofi, one of the three largest diabetes care companies, confirms our position as the world leader in connected devices,” said Eric Dessertenne, COO of Biocorp, about the partnership.
According to Biocorp’s website, the device tracks injection data such as dose, date, and time, and syncs via Bluetooth to a compatible software. The cap syncs with all pen injectors, is removable and reusable for up to 2 years, and can pair with smartphones, among other features. MedTech Drive reports that users are also able to generate a report of data over a 90-day period.
Mallya was previously known as “EasyLog” before Biocorp rebranded the product, states BusinessWire.
Biocorp is expected to commercially distribute the device as early as this fall across Europe, and is hoping to submit their product for Food & Drug Administration review by the end of 2019 or early 2020, says Close Concerns.
Sanofi is also reported to be working on its own line of smart insulin pens for release in the next few years. In the past, Sanofi partnered with Innovation Health to support a pilot project with Common Sensing, another smart pen cap maker, says Close Concerns.
Biocorp also recently announced partnerships with AgaMatrix, a diabetes device company, as well as DreaMed Diabetes, maker of the Advisor Pro software used in clinical settings. AgaMatrix hopes to distribute Mallya internationally, and the two companies are also working on a new, undisclosed project together. With DreaMed Diabetes, Biocorp’s dosing data will be used to assist with multiple daily injections and basal-specific features of the Advisor Pro software.
The Market Reporter projects that the smart insulin pen market will be valued at $70.4 million by 2027, a sharp rise from $29.2 million seen in 2018. This rise may be attributed to an increase in diabetes prevalence and awareness, in addition to the need for connected devices for diabetes management.
To learn more about smart insulin pens and caps in development or on the market, view Close Concerns’ roundup here (subscription required).