Germantown, Maryland-based Senseonics, which is working on a long-term implantable continuous glucose monitor called Eversense, has expanded its exclusive distribution agreement with Roche.
Now, Roche will have exclusive rights to promote, market and sell the Eversense product line to diabetes clinics and patients in in most of Europe (excluding Scandinavia and Finland), the Middle East (except Israel) and Africa. This builds on the two companies’ previous agreement in May that awarded Roche the same privileges in Germany, Italy and the Netherlands.
“The partnership we formed with Roche earlier this year is off to a promising start. The early success and experience that each of our teams are gaining drove the mutual decision to expand our relationship,” Senseonics President and CEO Tim Goodnow said in a statement. We are excited to add these additional countries and look forward to growing the presence of Eversense through this partnership.”
The Eversense System consists of a pill-sized sensor that is entirely implanted in the user’s upper arm so that it can continuously monitor their glucose levels. The sensor wireless sends glucose data to a smart transmitter worn on the upper arm over the sensor insertion site, and data and alerts are simultaneously sent to the companion smartphone app. The device is also intended to be used as an adjunctive device that will complement information collected from standard home blood glucose meters. The device is meant to last at least 90 days before it needs to be replaced — in contrast to the five to seven days that current not-quite-so-invasive CGMs last.
As Roche handles sales, marketing and customer support, Senseonics will be responsible for product development and regulatory approval. Last month, the company submitted its PMA application to the FDA, and in May received the CE Mark for Eversense. After receiving that clearance, the company announced it would begin commercialization in Sweden in an exclusive distribution partnership with Rubin Medical.
In January, Senseonics filed to go public with an IPO that, at the time was valued at $51.75 million. A month later, Senseonics announced a partnership with diasend, a Swedish diabetes data management company, to maximize the user experience of its device, and to establish a pipeline for sending its data to users’ healthcare providers.