ALR Technologies SG Ltd (ALRTF)

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News! ALR Technologies Completes Definitive Manufacturing Agreement with Infinovo Medical for the GluCurve Pet CGM Hardware
June 29, 2022 08:28 ET | Source: ALR Technologies

SINGAPORE, June 29, 2022 (GLOBE NEWSWIRE) -- ALR Technologies SG Pte. Ltd (“ALRT” or the “Company”) (OTCQB: ALRT), the diabetes management company, announces 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 utilized as part of the ALRT GluCurve Pet CGM (the “Manufacturing Agreement”). The Manufacturing Agreement gives ALRT the 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 commercialization and profitability,” comments Sidney Chan, Chairman and CEO of ALRT. “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.

https://alrt.com/news/2022/06/29/manufacturing-agreement