i-SENS announced on the 9th that the European export of Caresense Air, the first domestically developed continuous glucose monitor (CGM), began on the 8th (local time).
This European export was achieved about eight months after its domestic launch in September last year, through a distribution partnership agreement with the Hungarian company 77Electronika. 77Electronika distributes medical devices and solutions throughout Europe. Through this agreement, i-SENS granted 77Electronika exclusive distribution rights for Caresense Air in Hungary and plans to jointly develop customized marketing strategies to increase product awareness and sales across Hungary while targeting the Hungarian diabetes market.
An i-SENS official stated, "The partnership with 77Electronika, a key player in the European healthcare sector, will serve as a channel for i-SENS’s innovative technology to reach the European market, especially Hungary." Leveraging this export, i-SENS plans to launch Caresense Air in five European countries including Hungary and aims to introduce it in a total of 16 countries within this year. The company has also recently begun preparations for entry into the U.S. market. Starting next year, i-SENS plans to invest approximately 30 billion KRW in clinical trial costs to obtain approval from the U.S. Food and Drug Administration (FDA) by 2026.
Nam Hak-hyun, CEO of i-SENS, said, "This partnership will be an opportunity to introduce Caresense Air to the European market," adding, "We will take this not only as a chance for commercial success but also as an opportunity to demonstrate the excellence of Korean technology in the international medical device market."
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