AgaMatrix, Inc. and sanofi-aventis (EURONEXT: SAN and NYSE: SNY) today announced that they have signed a long-term agreement for the development, supply and commercialization of blood glucose monitoring (BGM) solutions. Under the terms of the agreement, AgaMatrix and sanofi-aventis will co-develop innovative solutions in diabetes management that incorporate AgaMatrix's WaveSense™ technology. Sanofi-aventis will commercialize through its Global Diabetes Division such integrated solutions for patients with diabetes, along with current sanofi-aventis insulins and delivery devices. Sanofi-aventis' insulin and device portfolio include Lantus®, a basal insulin that is the number one insulin prescribed worldwide, and Apidra®, a leading fast-acting insulin, plus its easy-to-use delivery pens SoloSTAR® and ClikSTAR®.
Sanofi-aventis selected AgaMatrix as its global BGM partner based on AgaMatrix's accurate and innovative products in the market. Accuracy is particularly important to patients in order to safely adjust their insulin dose.
"In building our Global Diabetes Division, our objectives included conducting an exhaustive search for potential partners that have excellent core science, are highly innovative, and have the potential to develop a broad range of products. With AgaMatrix, we've found a company that can meet all three objectives in the BGM category," said Eric Petreto, Vice President of Device Strategy of the sanofi-aventis Global Diabetes Division.
AgaMatrix's proprietary WaveSense technology personalizes each test to provide world class accuracy by employing a new detection method called dynamic electrochemistry to detect and correct for errors caused by differences in blood samples, manufacturing variations and environmental conditions. In addition, tests are fast, require very little blood, and do not require coding.
"Our unwavering message to patients, health care professionals and industry leaders has been that people with diabetes need more accurate BGMs and that our WaveSense technology delivers high accuracy, so naturally we are thrilled to find a partner that shares these beliefs," said Sonny Vu and Sridhar Iyengar, Co-Founders of AgaMatrix. "With sanofi-aventis' global presence and sterling reputation, we believe this partnership will enable us to finally fulfill our original vision of making high accuracy blood glucose testing easily available to patients worldwide."
SOURCE AgaMatrix, Inc.