Valeritas named Life Science Company of the year by the New Jersey Technology Council
-- Award announced at the Council's awards gala, held to honor and recognize New Jersey's top technology companies --
BRIDGEWATER, New Jersey, [November 20, 2012] – Valeritas announced today that is has been named "Life Science Company of the Year" by the New Jersey Technology Council (NJTC). The NJTC selected Valeritas as the winner of this award due to the company's targeted mission and clinical focus on the development of technologies that help improve and simplify the lives of people with Type 2 diabetes, as well as the experience of its Executive Management Team in developing and commercializing devices at high volumes. The Bridgewater-based company is known for its leading product, the V-Go™, a wearable device for the delivery of insulin. By developing and commercializing the V-Go, the company seeks to provide a groundbreaking treatment option for patients and address the need for more compliance and adherence in the diabetes therapeutic area.
"Receiving the New Jersey Technology Council Life Science Company of the Year is an honor for Valeritas since it is an affirmation of our efforts as an organization," said Kris Peterson, CEO of Valeritas, Inc. "We are embarking upon our national launch and bringing our product, V-Go, to Type 2 diabetes patients. This award recognizes our innovation and the fact that we will be able to make a difference in the lives of these patients."
About Valeritas, Inc.Valeritas is a medical technology company committed to the development and commercialization of innovative drug delivery solutions with the primary focus of treating patients with Type 2 Diabetes.
The Valeritas portfolio is headlined by the V-Go™ Disposable Insulin Delivery Device, designed for the simple delivery of basal-bolus insulin therapy via a preset basal rate and on-demand bolus dosing at mealtimes. The V-Go offers an alternative for many Type 2 diabetes patients who find it difficult to take insulin injections as scheduled throughout the day.
Valeritas is dedicated to providing impactful solutions for the millions of patients diagnosed with Type 2 diabetes in the United States - a population that continues to grow at an alarming rate. According to the American Diabetes Association, nearly 26 million people in the US have diabetes,1 and approximately 4.8 million people depend on daily insulin injections to help them control and manage their diabetes.2
In addition to V-Go, Valeritas' delivery technology portfolio includes the h-Patch™ for the delivery of other compounds beyond insulin, the Mini-Ject™ Pre-Filled Needle-Free Delivery System, and the Micro-Trans™ Microneedle Transdermal Delivery Patch. This technology portfolio is currently only available outside the US.
Headquartered in Bridgewater, New Jersey, Valeritas operates its R&D; and manufacturing in a state-of-the-art facility in Shrewsbury, Massachusetts. For more information, visit www.valeritas.com.
About The New Jersey Technology CouncilThe New Jersey Technology Council (NJTC) provides business support, networking opportunities, information, advocacy, and recognition of technology companies and their leaders. Founded in 1996, NJTC's member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States.
The NJTC offers its member companies access to networking, financing resources, expertise and more. A private, not-for-profit membership organization, the NJTC fosters and grows a vibrant entrepreneurial spirit and nurtures a community where great ideas take flight.
About the V-Go Disposable Insulin Delivery DeviceThe V-Go is a simple, fully-disposable device designed and cleared for the delivery of basal-bolus insulin therapy for adults with diabetes. The V-Go delivers a continuous preset basal rate of insulin and allows for on-demand bolus dosing at mealtimes, providing insulin 24 hours per day. Valeritas has received both FDA 510(k) clearance and European CE Mark certification for the V-Go.
Patients fill the V-Go with insulin using a simple, disposable, point-of-care filling accessory — the V-Go™ EZ Fill (which will be included with each monthly supply of V-Go devices). A separate prescription for insulin is required for use with the V-Go. Humalog® and NovoLog® have both been tested by Valeritas, Inc. and found safe for use with the V-Go.
Important Risk Information: If regular adjustments or modifications to the basal rate of insulin are required in a 24-hour period, or if the amount of insulin used at meals requires adjustments of less than 2-Unit increments, use of the V-Go Disposable Insulin Delivery Device may result in hypoglycemia. The following conditions may occur during insulin therapy with the V-Go: hypoglycemia (low blood glucose) or hyperglycemia (high blood glucose). Other adverse reactions associated with V-Go use include skin irritation from the adhesive pad or infections at the infusion site. The V-Go should be removed before any magnetic resonance imaging (MRI) testing.
Valeritas Media Contact:Shannon Coughlin
Twist
212.301.7209
[email protected]
References
- American Diabetes Association, Diabetes Basics. http://www.diabetes.org/diabetes-basics/diabetes-statistics/?loc=DropDownDB. Published 2012. Accessed November 5, 2012.
- National Diabetes Information ClearingHouse. National Diabetes Statistics. 2011. http://diabetes.niddk.nih.gov/dm/pubs/statistics/#fast. Accessed November 5, 2012.