Pharmacolog signs Letter of Intent with Codonics Inc. regarding sales in the US and China
Pharmacolog AB has signed a letter of intent with Codonics Inc. to enter into long-term cooperation on sales in the US and China and to integrate Pharmacolog’s technology into the company’s system for safe and effective management of drugs in anesthesia and surgery.
The Letter of intent states that the parties are working to establish a formal partner agreement regarding the sale of WasteLog primarily in the US and Chinese markets and the integration of WasteLog® into the Codonics Safe Label System (SLS), a system for managing drugs in anesthesia and surgery. Codonics has more than 8,000 SLS installed in a total of 630 hospitals in 15 different countries, the majority of which are in the United States. Pharmacolog’s WasteLog® integrated into the SLS concept means that a customer gets an integrated solution for the entire handling of narcotic drugs. From the drug being picked out by an anesthesiologist until any remaining substance is checked and discarded.
Mats Högberg CEO of Pharmacolog comments: “We have carried out a targeted work on establishing strategic partnerships with major international players and are very pleased to have entered a Letter of Intent with Codonics. The purpose is to work together for a faster market introduction in the US of WasteLog® and with integration to create a completely new solution for controlling narcotic returns. Codonics also has a well-established business in China and sees great opportunities for WasteLog® in the Chinese market. Collaboration with Codonics will open up new business opportunities for Pharmacolog and will greatly contribute to the company’s growth.”
This information is insider information that Pharmacolog AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on 2020-05-18, at 08:30.
About Pharmacolog AB
Pharmacolog is specialized in developing systems and solutions for more effective and safer use of intravenous drugs. The company’s first product, DrugLog®, enables a nurse or pharmacist to quickly and easily verify that an injectable drug has the right identity and concentration. Pharmacolog’s long-term vision is an individually optimized medication for each individual patient, considering all available parameters in the control and distribution of the drug. Further information regarding the company is available at http://www.pharmacolog.com. The company’s Certified Adviser is Mangold Fondkommission AB, which can be reached on telephone number +46 8-5030 15 50 or through CA@mangold.se.