Irish medtech company HealthBeacon has signed a distribution deal with a major US pharmacy firm.
he move will open up the market for HealthBeacon’s products to 9 million US patients.
HealthBeacon develops products to help patients manage injectable medications, including Smart Sharps Bins, which track and remind patients when to take their shots.
Recent peer-reviewed evidence showed HealthBeacon’s products improved injectable medication adherence by up to 26pc.
HealthBeacon expects the contract to help it deploy 15,000 smart bins in the US this year. The bins have already been approved by the US Food and Drug Administration.
The Duboin-based firm is targeting 100,000 new patients this year, an approximately ten-fold increase on 2021.
The contract comes on the back of a robust trial and assessment of its technology across 48 US states, in a range of inflammatory conditions.
“The signing of this contract is a significant milestone for HealthBeacon, unlocking greater access to our injection care management system for the millions of patients in the US that self-administer subcutaneous injections at home,” said HealthBeacon founder and chief executive Jim Joyce, CEO.
“It is also an important validation of HealthBeacon’s technology and the clinical effectiveness of our product. Moreover, it is an endorsement of our mission to become the world’s leading digital therapeutics platform for injectable medications.
“At HealthBeacon, our fundamental aim is to make our product globally accessible and this yet another landmark development as we work toward what we expect will be a ten-fold increase in the number of patients using our injection care management system by the end of next year.”
HealthBeacon started listing on the Euronext Growth Market, a market operated by Euronext Dublin, last year, at a market capitalisation of around €100m.
