Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Lein raises Significant Investment to develop Painless Test for Diabetics

05.10.2004


Lein Applied Diagnostics Ltd, a Berkshire-based company that is developing a revolutionary new product to measure blood glucose levels in diabetics, has successfully completed a significant fundraising round through Thames Valley Investment Network (TVIN). The funding will enable Lein to produce next generation prototypes and perform clinical testing. The finance secured marks the third deal closed by the TVIN Network in 18 months.



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, but diabetes testing remains painful and time-consuming.

Dr Dan Daly, Director of Lein Applied Diagnostics, explained: “Diabetics must measure their glucose levels frequently to monitor and control their condition. They currently do this by taking a blood sample using a finger prick test, which is invasive, painful, carries the risk of infection, and is expensive for the NHS. As the test is uncomfortable, some people do not test themselves as often as they should, increasing the likelihood of complications such as heart disease and blindness.


Lein’s first product is expected to transform the way diabetics test their blood glucose levels. Our patented blood glucose meter uses optical measurement techniques to track the amount of glucose in the eye, which diabetics can use to obtain accurate readings of their blood glucose levels. The Lein instrument completely eliminates the need for finger prick tests, with their associated problems and expense, and should improve the quality of life for millions of patients. We believe that Lein’s innovative technology is set to cause significant disruption in the £2.6 billion self-testing market.”

Dr Daly praised Thames Valley Investment Network (TVIN): “We presented our business opportunity at one of the TVIN Network’s monthly meetings and were delighted to secure an investment from one of their investor members, Seven Spires Investments Ltd. The finance raised with the help of TVIN means that we can progress swiftly to develop advanced prototypes of our blood glucose instrument, and carry out clinical testing. These will build on the favourable results obtained from initial tests of our first prototype instrument, which were performed by the University of Manchester Department of Optometry & Neuroscience.”

Dr Dinali de Silva, Manager of the TVIN Network said: “I congratulate Lein on their successful fundraising, which follows on from their prestigious SMART Award. The TVIN Network provides a bridge between ideas and investment for entrepreneurs in Reading and surrounding areas, by helping them to raise capital of up to £1m to develop their early stage technology businesses.”

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 at 16:00 hrs on 21 October 2004 in Reading. Contact: Dr Dinali de Silva, Manager, on 01344 753365 or email: dinali@tvin.co.uk

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

More articles from Life Sciences:

nachricht Microscope measures muscle weakness
16.11.2018 | Friedrich-Alexander-Universität Erlangen-Nürnberg

nachricht Good preparation is half the digestion
16.11.2018 | Max-Planck-Institut für Stoffwechselforschung

All articles from Life Sciences >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: UNH scientists help provide first-ever views of elusive energy explosion

Researchers at the University of New Hampshire have captured a difficult-to-view singular event involving "magnetic reconnection"--the process by which sparse particles and energy around Earth collide producing a quick but mighty explosion--in the Earth's magnetotail, the magnetic environment that trails behind the planet.

Magnetic reconnection has remained a bit of a mystery to scientists. They know it exists and have documented the effects that the energy explosions can...

Im Focus: A Chip with Blood Vessels

Biochips have been developed at TU Wien (Vienna), on which tissue can be produced and examined. This allows supplying the tissue with different substances in a very controlled way.

Cultivating human cells in the Petri dish is not a big challenge today. Producing artificial tissue, however, permeated by fine blood vessels, is a much more...

Im Focus: A Leap Into Quantum Technology

Faster and secure data communication: This is the goal of a new joint project involving physicists from the University of Würzburg. The German Federal Ministry of Education and Research funds the project with 14.8 million euro.

In our digital world data security and secure communication are becoming more and more important. Quantum communication is a promising approach to achieve...

Im Focus: Research icebreaker Polarstern begins the Antarctic season

What does it look like below the ice shelf of the calved massive iceberg A68?

On Saturday, 10 November 2018, the research icebreaker Polarstern will leave its homeport of Bremerhaven, bound for Cape Town, South Africa.

Im Focus: Penn engineers develop ultrathin, ultralight 'nanocardboard'

When choosing materials to make something, trade-offs need to be made between a host of properties, such as thickness, stiffness and weight. Depending on the application in question, finding just the right balance is the difference between success and failure

Now, a team of Penn Engineers has demonstrated a new material they call "nanocardboard," an ultrathin equivalent of corrugated paper cardboard. A square...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

“3rd Conference on Laser Polishing – LaP 2018” Attracts International Experts and Users

09.11.2018 | Event News

On the brain’s ability to find the right direction

06.11.2018 | Event News

European Space Talks: Weltraumschrott – eine Gefahr für die Gesellschaft?

23.10.2018 | Event News

 
Latest News

Purdue cancer identity technology makes it easier to find a tumor's 'address'

16.11.2018 | Health and Medicine

Good preparation is half the digestion

16.11.2018 | Life Sciences

Microscope measures muscle weakness

16.11.2018 | Life Sciences

VideoLinks
Science & Research
Overview of more VideoLinks >>>