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NuGen Medical Devices Files Two More Patent Applications

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NuGen Medical Devices (NGMD.V) filed two additional patent applications focused on high-efficiency spring charging technology and automatic dose-establishment technology, it said in a statement late Monday.

The company believes that with the two additions, it has now established the core intellectual property portfolio supporting its needle-free drug delivery technologies.

"Our goal is clear: patients who use an insulin pen should be able to adopt needle-free technology with the same confidence and ease," said NuGen Medical Devices chief executive Liang Lin. "These patent filings strengthen the foundation of our Transfer, Refill and Prefilled Platforms."

Shares of the company closed up 33% to C$0.02 on Monday on the TSX Venture Exchange.

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