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Cranfield Collaborator Receives Multi Million Dollar Financing
November 05, 2004Cranfield 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 Sun™ lancing device, as well as the continued research and development of the company's fully-integrated glucose-testing and monitoring device. Additionally, the company will dedicate resources to further the research and development of innovative product candidates in the diagnostic point-of-care testing markets.
"We are excited to have achieved this important financial milestone, which will enable Pelikan to broaden the commercialization efforts of the Pelikan Sun product," said Pelikan's President and CEO, Dirk Boecker, M.D., Ph.D. "As important, this new capital will allow us to accelerate the development of our cutting-edge fully-integrated glucose-testing and monitoring device, positioning Pelikan to launch the system in 2007."
Cranfield University
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 Sun™ lancing device, as well as the continued research and development of the company's fully-integrated glucose-testing and monitoring device. Additionally, the company will dedicate resources to further the research and development of innovative product candidates in the diagnostic point-of-care testing markets.
"We are excited to have achieved this important financial milestone, which will enable Pelikan to broaden the commercialization efforts of the Pelikan Sun product," said Pelikan's President and CEO, Dirk Boecker, M.D., Ph.D. "As important, this new capital will allow us to accelerate the development of our cutting-edge fully-integrated glucose-testing and monitoring device, positioning Pelikan to launch the system in 2007."
Cranfield University
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Diabetes surgery summit consensus lays foundation for new field of medicine
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ESC to give talks on Diabetes in three cities in China
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New research shows versatility of amniotic fluid stem cells
For the first time, scientists have demonstrated that stem cells found in amniotic fluid meet an important test of potential to become specialized cell types, which suggests they may be useful for treating a wider array of diseases and conditions than scientists originally thought.
First reconstitution of an epidermis from human embryonic stem cells
Stem cell research is making great strides. This is yet again illustrated by a study carried out by the I-STEM* Institute (I-STEM/ Inserm UEVE U861/AFM), published in the Lancet on 21 November 2009. The I-STEM team, directed by Marc Peschanski has just succeeded in recreating a whole epidermis from human embryonic stem cells.
An atomic-level look at an HIV accomplice
Since the discovery in 2007 that a component of human semen called SEVI boosts infectivity of the virus that causes AIDS, researchers have been trying to learn more about SEVI and how it works, in hopes of thwarting its infection-promoting activity.
Scripps research scientists find new link between insulin and core body temperature
A team led by scientists at The Scripps Research Institute have discovered a direct link between insulin-a hormone long associated with metabolism and metabolic disorders such as diabetes-and core body temperature.
Scientists find molecular trigger that helps prevent aging and disease
Researchers at Mount Sinai School of Medicine set out to address a question that has been challenging scientists for years: How do dietary restriction-and the reverse, overconsumption-produce protective effects against aging and disease?
Pivotal study for PSD502 -- the first potential treatment for premature ejaculation
At the annual meeting of the Sexual Medicine Society of North America (SMSNA), Inc. in San Diego, Sciele Pharma, Inc., a Shionogi Company and Plethora Solutions Limited, a wholly owned subsidiary of Plethora Solutions Holdings PLC ("Plethora" - AIM:PLE)., today presented data from its second positive pivotal study of PSD502 for the treatment of premature ejaculation (PE).
Night Beat, Overtime and a Disrupted Sleep Pattern Can Harm Officers' Health
A police officer who works the night shift, typically from 8 p.m. to 4 a.m., already is at a disadvantage when it comes to getting a good "night's" sleep.
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