SENSEONICSHOLDINGS,INC. (NYSEMKT:SENS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement
On November 28, 2016, Senseonics Incorporated, a wholly-owned
subsidiary of Senseonics Holdings, Inc. (the Company) entered
into an amendment to its distribution agreement (the Amendment)
with Roche Diagnostics International AG and Roche Diabetes Care
GmbH (collectively, Roche), which amends that certain
distribution agreement, by and between the Company and Roche,
dated May 23, 2016 (the Distribution Agreement).
to the Amendment, the Company granted Roche the exclusive right
to market, sell and distribute the Companys Eversense continuous
glucose monitoring system (Eversense) in Europe, the Middle East
and Africa, excluding Sweden, Norway, Denmark, Finland and
Israel.Roche is obligated to purchase from the Company specified
minimum volumes of Eversense components at pre-determined prices,
which pricing is subject to renegotiation in certain
circumstances.
In addition, to the Amendment, the parties extended the initial
term of the Distribution Agreement through December 31, 2018,
which may be extended through December 31, 2019 if the Company
and Roche agree upon the minimum purchase requirements for 2019.
Except as modified by the Amendment, all terms and conditions of
the Distribution Agreement remain in full force and effect.
The foregoing description of the Amendment is not complete and is
qualified in its entirety by reference to the Amendment, which
will be filed as an exhibit to the Companys Annual Report on Form
10-K for the year ending December31,2016.
Item 8.01Other Events
On December 2, 2016, the Company issued a press release
announcing the entry into the Amendment with Roche described
above.
A copy of the press release is furnished as Exhibit 99.1 to this
Current Report on Form 8-K, the contents of which are
incorporated herein by reference. The information contained in
this Current Report on Form 8-K speaks only as the date hereof.
While the Company may elect to update the information in this
Current Report on Form 8-K in the future, the Company disclaims
any obligation to do so except to the extent required by
applicable law.
Item9.01Financial Statements and Exhibits.
(d) Exhibits.
|
Number |
Description |
|
99.1 |
Press release of Senseonics Holdings, Inc. dated December |
About SENSEONICS HOLDINGS, INC. (NYSEMKT:SENS)
Senseonics Holdings, Inc., formerly ASN Technologies, Inc., is a medical technology company. The Company is focused on the design, development and commercialization of glucose monitoring systems. The Company operates through glucose monitoring systems segment. It offers a continuous glucose monitoring (CGM) system, Eversense, which is designed to be an implantable CGM system to continually measure glucose levels in people with diabetes for a period of approximately 90 days. Eversense consists of three components: a small sensor inserted subcutaneously in the upper arm by a healthcare provider; an external removable smart transmitter that receives, assesses and relays the data from the sensor and also provides vibratory alerts, and a mobile application that receives data from the transmitter and provides real-time glucose readings, alerts and other data on the user’s mobile device, such as a smartphone, Apple Watch or tablet. SENSEONICS HOLDINGS, INC. (NYSEMKT:SENS) Recent Trading Information
SENSEONICS HOLDINGS, INC. (NYSEMKT:SENS) closed its last trading session up +0.11 at 2.93 with 37,263 shares trading hands.