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Long-term investment secured - Swiss foundation supports innovative concept for patients with diabetes
Zurich (ots) - Solianis recently signed an investment agreement with a Swiss foundation which invests its assets in Swiss companies. According to the agreement, this foundation will put CHF 5 million, while the previous investors in Solianis are investing another CHF 3 million. "The CHF 8 million invested will enable us to increase our efforts to complete the prototype of our non-invasive glucose monitoring device and to prepare the clinical trials required for CE certification. The realisation of our innovative product concept is now assured", says Mario Stark, managing director at Solianis. Dr. Andreas Bänziger, member of Solianis' Board of Directors, confirms that "Solianis convinced the foundation with its technology, successful tests and expert team. Together with former and new investors we will implement our project and are able to take the steps necessary to be ready for market introduction". Solianis Monitoring AG is a medical devices company developing a non-invasive Continuous Glucose Monitor (CGM) for self-monitoring patients with diabetes. Its technology is based on a unique and proprietary multisensor technology for monitoring physiological parameters. Solianis' non-invasive device delivers comparable results to the minimally invasive devices currently approved by the FDA Solianis was incorporated in May 2005, and is funded by private investors and the Pioneer Fund of the Cantonal Bank of Zürich. The company plans to introduce its first-generation device for insulin-dependent patients with diabetes by 2010 in Europe, after CE approval. Later product generations will target all patients with diabetes and impaired glucose tolerance
ots Originaltext: Solianis Monitoring AG
Solianis Monitoring AG