NuGen Announces Canada-Wide Launch of InsuJet

3,250 InsuJet Starter Packs Being Delivered to Pharmacies Across Canada

Toronto, Ontario–(Newsfile Corp. – November 22, 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 the national launch of InsuJet™ in Canada. The launch began on November 15, in conjunction with the commemoration of the World Diabetes Day, where InsuJet™ was celebrated and recognized at a special event held at Banting House in London, Ontario – the birthplace of Insulin.

NuGen received an initial order for 2,500 and a second order of 750 units of InsuJet™ starter kits and consumables representing revenue of $670,000 and a gross margin of $368,500 in Q3 and Q4 2024.

Leading pharmacy networks such as London Drugs, Prue Integrative Pharmacies, Pharmasave, Wholehealth Pharmacy Partners, Pharma Brands Canada, Overwaite SaveOn Pharmacies and other well-known Canadian pharmacies are supplied with the InsuJet™ through major distributors including McKesson Canada, Khol & Frisch Distributors, Imperial Distributors and UniPharm Distribution, which are collectively providing all 12,000 pharmacies across Canada access to InsuJet™.

Karen Dunlap, NuGen’s Interim Chief Executive Officer, commented: “We are extremely excited to be taking NuGen to a new level of distribution globally to manage diabetes and the delivery of insulin needle-free. As the birthplace of Insulin, Canada represents another great place for us with the rest of the world to follow with InsuJet™ approved for use in 42 countries. We are combining our technical IP experience with our distributor’s commercial and clinical strategies to support this strong growth.“

About NuGen

NuGen is a leading developer of needle-free devices to administer therapeutics subcutaneously. The Company is marketing and selling its next-generation InsuJet™ needle-free injection system designed to improve the lives of millions of diabetics. InsuJet™ is approved for sale in 42 countries around the world.

For further information, please visit:

Websites: www.insujet.com, and www.nugenmd.com

Instagram: @NuGenMD

Twitter: @NuGenMD

LinkedIn: https://www.linkedin.com/company/nugenmd/

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This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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