Biocorp SA (Paris:ALCOR), a French company specialising in the development and manufacturing of medical devices and smart drug delivery systems, revealed on Wednesday that it has entered into exclusive negotiations with pharmaceutical group Sanofi (Paris:SAN) aimed at introducing Biocorp's Mallya connected device into Sanofi's integrated diabetes care platform.

Mallya is a smart sensor cap that clips onto an injection pen enabling automatic recording and transmission of dosage information via a dedicated mobile application. Mallya is the only connected device for injection pens which has been evaluated to meet the accuracy requirements needed for a CE class IIb medical device designation by the European regulatory authorities, Biocorp said.

Under the terms of these exclusive negotiations, Biocorp will receive an initial payment of EUR4m from Sanofi to support related development activities.