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Lein raises Funding after Successful Clinical Tests of Painless Diabetes Meter

11.01.2006


Lein Applied Diagnostics Ltd, a Berkshire-based company that is developing a revolutionary new product to measure blood glucose levels in people with diabetes, has successfully completed clinical tests of its advanced prototypes and secured further investment from Seven Spires Investments, a member of Thames Valley Investment Network (TVIN). The funding will enable Lein to accelerate the development programme for its non-invasive optical instrument.



Diabetes is a major problem, with 1.8 million sufferers in the UK and over 170m worldwide. The numbers are predicted to rise dramatically due to an ageing population and the general increase in obesity rates. People with Type 1 diabetes must measure their glucose levels four or five times a day in order to control their condition; they currently take a blood sample from a finger prick test, which is painful, inconvenient and can be unhygienic. As a result, some people do not test themselves as often as they should, increasing the likelihood of complications such as heart disease and blindness.

Lein’s patented blood glucose meter could transform the way people with diabetes test their blood glucose levels. In recent clinical tests, an advanced prototype of the instrument, which uses an innovative optical measurement technique to track the amount of glucose in the eye, produced well correlated readings of blood glucose levels when tested on volunteers with widely varying ages. Successful tests have also been performed on volunteers with contact lenses.


Dr Dan Daly, Director of Lein Applied Diagnostics, explained: “We are delighted with the excellent results from our clinical tests, and pleased that Seven Spires Investments have provided us with further investment, following on from the initial funding secured after we presented at a TVIN meeting. Having achieved our clinical and technical goals, we are now ready to accelerate our development programme.

We have grown from two to nine staff during the last year, and we are working closely with a range of expert partners including Sira, the University of Manchester and the Institute of Photonics at the University of Strathclyde which provide invaluable ophthalmic and optical support. I am confident that we will meet the challenging targets that we have set ourselves for the next year. Our ultimate aim is to produce a small, battery-powered device that can be carried around in a pocket or handbag.”

Eileen Modral, Manager of the TVIN Network said: “We congratulate Lein on their successful clinical tests and on securing further major funding from Seven Spires Investments, a longstanding member of the TVIN Network. By completely eliminating the need for finger prick tests, Lein’s instrument should improve the quality of life for millions of people. We believe that their innovative technology is going to cause significant disruption in the £2.6 billion self-testing market.”

TVIN is managed by Oxford Innovation Ltd (www.oxin.co.uk), the UK’s leading operator of innovation centre premises for start-up companies, and sponsored by the Thames Valley Economic Partnership, the South East England Development Agency and Business Link.

The next meeting of Thames Valley Investment Network is on 26 January 2006.

Margaret Henry | alfa
Further information:
http://www.oxin.co.uk
http://www.tvin.co.uk

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