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Cellnovo. (6/28/17). "Press Release: Cellnovo Signs Expanded Agreement to Build Second Production Line with Flex". Paris.

Organisations Organisation Cellnovo Group S.A. (Euronext: CLNV)
  Group Cellnovo (Group)
  Organisation 2 Flex Ltd. (RO)
  Group Flextronics (d/b/a Flex) (Group)
Products Product contract manfuacturing (medical devices)
  Product 2 insulin pump
Persons Person Baratte, Sophie (Cellnovo 201602 CEO)
  Person 2 Merigeau, Nicolas (NewCap 201502)
     


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


Cellnovo Group (“Cellnovo” CLNV:EN Paris), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, today announces that 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™.

Sophie Baratte, Chief Executive Officer of Cellnovo, commented: “Adding to the capabilities of 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. This expansion of our business with Flex reinforces our relationship and demonstrates our confidence in Flex’s world-class expertise, to provide manufacturing capabilities aligned to our commercial growth.”


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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

   
Record changed: 2017-08-24

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