28 June 2017

Cellnovo Signs Expanded Agreement to Build Second Production Line with Flex

 

Second production line to increase total production capacity of insulin cartridges and significantly reduce cost of production

 

Paris, France, June 28, 2017 – Cellnovo Group (“Cellnovo” CLNV:EN Paris), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, today announced it is building a second large-scale production line for the manufacture of its insulin cartridges. This announcement comes as the first production line, at a Flex facility in Austria, ramps up to full production capacity.

 

The second production line, to be built in a Flex facility in Romania, will have the same annual production capacity as the first line, at 600,000 cartridges per year. The Flex facility in Romania was selected for its cost efficiencies, which will significantly reduce the overall cost of goods sold (COGS) of Cellnovo’s insulin cartridges. The completion of the project is expected in H1 2018.

 

Cellnovo’s manufacturing partner, Flex, is the Sketch-to-Scale™ solutions provider that designs and builds Intelligent Products for a Connected World™.

“In parallel with our first mass production line, which will ramp up to full capacity this summer, we are pleased to announce the building of a second line. The expansion of our business with Flex reinforces our relationship and demonstrates our confidence in Flex’s world-class expertise to match our manufacturing capacity with our commercial growth.”

Sophie Baratte

Chief Executive Officer of Cellnovo

About Cellnovo

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 further information please visit www.cellnovo.com

 

About the Cellnovo Diabetes Management System

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 with drop-by-drop precision, 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

 

 

 

 

 

Contact

Cellnovo

Chief Executive Officer
Sophie Baratte

investors@cellnovo.com

 

 

NewCap

 

Investor Relations

Tristan Roquet Montégon

+ 33 1 44 71 00 16


Media Relations in France

Nicolas Merigeau

+ 33 1 44 71 94 98

cellnovo@newcap.eu

Consilium Strategic Communications

 

Media Relations in the United Kingdom

Amber Fennell, Chris Welsh, Laura Thornton
+44 20 3709 5700
cellnovo@consilium.com

 

 


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