Ascensia Diabetes Care has announced it has entered into a global alliance with Zhejiang POCTech, Co., Ltd (POCTech), a developer and manufacturer of continuous glucose monitoring (CGM) systems. Ascensia will be the exclusive distributor for POCTech’s devices in an initial 13 markets, which are yet to be confirmed. As part of this agreement Ascensia will commercialize a version of POCTech’s current CGM kit, distributing the product in the second half of 2019.
News is not yet available as to whether the UK will be in the first 13 markets; we will do an update as soon as a British launch date is announced.
Ascensia and POCTech have also entered into a joint development agreement to co-develop next-generation products that build on POCTech’s existing technology. This agreement will leverage expertise from both companies to build and manufacture next-generation products with enhanced capabilities and features that are designed to more effectively meet the needs of people with diabetes.
Michael Kloss, CEO, Ascensia Diabetes Care, comments, “We are committed to expanding our business beyond blood glucose monitoring and we see continuous glucose monitoring as a critical component of diabetes care. This partnership will enable us to bring an approved CGM product to selected markets in 2019 and at the same time create novel CGM systems that build on POCTech’s existing technology to address some of the unmet needs of people with diabetes. This agreement with POCTech is the key first step in building a world-class CGM franchise for Ascensia. We are aiming to use a combination of partnerships and our own in-house CGM development program to build a pipeline of state-of-the-art CGM products that improve on what is currently available for people with diabetes.”
Yanan Zhang, Ph.D., President and Chief Scientific Officer of Zhejiang POCTech, Co., Ltd, adds, “The collaboration between the two companies is an important milestone to the goal of reaching out to the worldwide market as well as creating our next generation CGM products. By combining Ascensia’s strength in global marketing, regulatory affairs, quality systems, and capabilities for designing and testing new systems, with POCTech’s expertise in sensor technology, we will together be able to provide the diabetes community with high quality and cost effective products.”
Ascensia’s extensive R&D experience in diabetes care (previously marketed under the brandname Bayer) led to the introduction of many user-centered innovations in diabetes, such as No-Coding technology and Second Chance blood sampling. Ascensia is responsible for the development of the Contour Next blood glucose monitoring range of meters. www.ascensia.com
Zhejiang POCTech Co. Ltd., is a privately owned medical devices company with a seasoned R&D team of high level experience and expertise in the fundamentals of in vivo sensing products. Since its establishment in 2010 in Huzhou, China, the company’s focus has been on medical biosensor technology. The company is led by Dr. Yanan Zhang, President and Chief Scientific Officer, who has more than 30 years of experience in continuous glucose monitoring at Medical Research Group and also Medtronic Minimed. www.poctechcorp.com
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