Cranfield collaborator receives multi million dollar financing

Cranfield University has been at the forefront of diabetes diagnostics for over twenty years and created the current generation of home blood glucose testing devices used throughout the world. More recently, the University has been working with Pelikan Technologies in Palo Alto, USA to develop the ultimate painless and convenient system and together they have created the first, fully integrated, blood sampling and glucose measurement device a truly one step procedure.

Now in one of the largest medical device company financings of 2004, Pelikan has announced the closing of a $29.2 million Series D preferred stock financing with several leading international investors. This brings the total financing into the company up to $46.2 million since its founding in 2001.

Pelikan's first product, which is expected to be launched in the spring of 2005, is the Pelikan Sun lancing device. Based on the company's "one-step, one-button" approach, this lancing device is the first fully-automated, electronically-controlled, self-contained system that allows a patient to execute the entire lancing process at the touch of a button in a virtually painless operation. Lancing, an often painful act of piercing the skin in order to obtain a sample of blood for glucose measurement, is required multiple times each day for millions of people with diabetes.

Head of Cranfield University at Silsoe, Professor Tony Turner was intimately involved in the development of this innovative product and said " The device, not only improves the ease of use and convenience for people with diabetes but it also significantly reduces the pain of a procedure that millions of diabetics go through multiple times a day. This is an especially important breakthrough for diabetic children, who often have very sensitive skin."

Proceeds from this financing will be primarily used to support Pelikan's commercialisation of the FDA-cleared Pelikan SunTM lancing device, as w

Contact: Helen Meadows
Cranfield University

Page: 1 2

Related biology news :

1. Oncolytics Biotech Inc., research collaborators demonstrate reovirus/gemcitabine
2. Indias biotech industry emerging as world innovator, collaborator, competitor
3. EMBL-EBI and collaborators win bid to run UK PubMed Central
4. Carnegie Mellons Peter Adams receives EPA research grant
5. Philadelphia ecologist receives top Mongolia honor
6. VIB scientist receives major research grant
7. Maynard Olson receives $500,000 Gruber Genetics Prize
8. University of Cincinnati receives $1.7M to research molecular treatment of brain injury
9. Wright State scientist receives grant to help clean up polluted American harbors
10. UCR biologist receives $1.75 million grant to study plant-threatening bacteria
11. Michael R. Zalutsky receives SNMs 2007 Paul C. Aebersold Award

Post Your Comments:

(Date:11/11/2015)...   MedNet Solutions , an innovative SaaS-based eClinical technology ... pleased to announce that it will be a Sponsor of ... to be held November 17-19 in Hamburg ... of iMedNet , MedNet,s easy-to-use, proven and ... has been able to deliver time and cost savings of ...
(Date:11/9/2015)... , Nov. 09, 2015 ... the addition of the "Global Law ... their offering. --> http://www.researchandmarkets.com/research/52ggmn/global_law ) ... "Global Law Enforcement Biometrics Market 2015-2019" ... Research and Markets ( http://www.researchandmarkets.com/research/52ggmn/global_law ) has ...
(Date:11/2/2015)...  SRI International has been awarded a contract of ... to the National Cancer Institute (NCI) PREVENT Cancer Program ... modern testing and support facilities, and analytical instrumentation to ... studies to evaluate potential cancer prevention drugs. ... Drug Development Program is an NCI-supported pipeline to bring ...
Breaking Biology News(10 mins):
(Date:11/27/2015)... , Nov. 27, 2015 /PRNewswire/--  Mallinckrodt plc (NYSE: ... today that it has closed the sale of its ... Guerbet (GBT- NYSE Euronext) in a transaction valued at ... manufacturing facilities and a total of approximately 1,000 employees ... St. Louis area. This entire ...
(Date:11/25/2015)... India , November 26, 2015 ... The Global Biobanking Market 2016 - 2020 report ... by maintaining integrity and quality in long-term samples, ... enabling long-term cost-effectiveness. Automation minimizes manual errors such ... the technical efficiency. Further, it plays a vital ...
(Date:11/25/2015)... Nov. 25, 2015  Neurocrine Biosciences, Inc. (Nasdaq: ... President and CEO of Neurocrine Biosciences, will be presenting ... New York . http://www.neurocrine.com ... website approximately 5 minutes prior to the presentation to ... the presentation will be available on the website approximately ...
(Date:11/25/2015)... ... 25, 2015 , ... Jessica Richman and Zachary Apte, founders ... initial angel funding process. Now, they are paying it forward to other microbiome ... investments in the microbiome space. In this, they join other successful entrepreneurs-turned-angels ...
Breaking Biology Technology:
Cached News: