NuGen Receives Order for Repeat Demand in Mexico

Toronto, Ontario--(Newsfile Corp. - July 19, 2024) - NuGen Medical Devices Inc. (TSXV: NGMD) (the "Company" or "NuGen") a leading developer of needle-free devices to administer therapeutics subcutaneously, is pleased to announce that Science Link, the exclusive distributor of the Insujet^TM in Mexico has placed an additional order for 4,500 Insujet injectors to support channel expansion and demand growth in the Mexico market.

The revenue associated with the order is $525K, contributing an expected gross margin of $341K to NuGen. Follow on orders for consumables will follow as the injector orders are fulfilled.

Science Link previously accepted orders for 1,500 injector units that were received in Mexico in April, 2024. This order of 4,500 units is scheduled to ship in Q4 2024, bringing the total injector sales into Mexico to 6,000 for the year.

Science Link has a demonstrated track record in developing markets in Mexico, with a strong leadership team and networks across the country. The firm is developing opportunities for the InsujetTM across multiple channels, including big box retail pharmacies, employer health support programs run by large multinationals operating in Mexico, and online sales. All of these channels are well supported by healthcare practitioners operating out of clinics in Mexico, including Conglomerate Medical with over 150 locations and over 1,500 clinicians.

"We are very encouraged by the acceptance and demand for the Insujet^TM in Mexico and we are investing in our growth plan for the country, expanding our distribution channels and continuing our roll out through retail distribution, employer health programs, and online sales," noted Juan Carlos Feregrino, CEO of Science-Link, "We see a great opportunity to address the unmet needs of the Mexico market, bringing this game changing new technology to the large and growing diabetic population in Mexico."

Mexico Diabetic Market:

In 2021, the estimated adult diabetic population grew to 14 million patients - a rise of 10% in the last 2 years. Diabetes-related health expenditure in Mexico has reached USD $20 billion, putting it in the top ten countries or territories with the highest total health expenditure¹.

It is estimated that 1 in 6 adults are now living with diabetes².

About Science-Link

Science-Link is dedicated to bringing disruptive technologies to the market. Science-Link was founded by experienced professionals with over 60 years of combined expertise in the health, wellness and agribusiness sectors. Its mission is to become the leading company in Mexico for the commercialization and distribution of new health and wellness disruptive technologies within the next 5 years. Science-Link utilizes a network of sub-distributors with the purpose of effectively penetrating and positioning InsuJet™ in all 32 States of Mexico, covering both traditional and modern channels. Additionally, Science-Link is implementing digital funnels to accelerate awareness and generate qualified leads for its potential customers, further supporting its distribution efforts.