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BUSINESS

ALR Technologies completes definitive manufacturing agreement with Infinovo Medical

30/06/2022 04:24 PM

KUALA LUMPUR, June 30 (Bernama) -- ALR Technologies SG Pte Ltd (ALRT or the Company) announced the completion of a definitive manufacturing agreement with Infinovo Medical Co Ltd (Infinovo) to manufacture and supply the Continuous Glucose Monitor (CGM) hardware that will be utilised as part of the ALRT GluCurve Pet CGM (the Manufacturing Agreement).

The Manufacturing Agreement gives ALRT, the diabetes management company, exclusive global rights to distribute the Infinovo CGM hardware for the animal health market, providing long-term production and supply. 

Subject to the satisfaction of all closing conditions it is expected that initial deliveries of product by Infinovo will be made during Q4 of 2022.

“Executing the Manufacturing Agreement with Infinovo marks another major milestone in our path to commercialisation and profitability,” said Sidney Chan, Chairman and CEO of ALRT in a statement.

“Our next targeted milestone is securing distribution for the ALRT GluCurve Pet CGM. We have been working with many of the largest global distributors and pharmaceutical companies in animal health, evaluating different distribution opportunities ranging from joint venture partnerships to sales and distribution agreements. 

“We believe we have narrowed in on the right company and right deal structure to best bring value to our shareholders and to those who care for diabetic pets. We hope to announce the details of this pivotal next step in the near future.”

The Manufacturing Agreement is subject to certain closing conditions including the completion of a distribution agreement with a third party by July 31, 2022.

More details at https://sg.alrt.com.

-- BERNAMA


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