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P.O. Box 385, 6849 Bellflower Ct
Mentor, OH 44061-0385 United States
phone:440-231-1039
fax:
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| Symbol |
Private |
| Founded |
1999 |
| Employees |
1 |
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| www.advancedbiosensors.com
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| Research Sector |
Medical Devices & Tech |
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| Summary Description |
| Micro-Biosensor Platform for Glucose Monitoring in Diabetic Patients |
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| Management |
| Albert P. Kretz, Ph.D., MBA, Chairman/Founder; Mihailo Rebec, Ph.D., President (pending funding) |
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| Keywords |
| Glucose, Diagnostic, Diabetes |
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| Description |
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Advanced BioSensors, Inc. is developing a wireless, continuous and percutaneous glucose monitor for people diagnosed with diabetes. |
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| Products / Services |
The company's continuous glucose monitor, coupled with a FDA-approved insulin pump, will offer patients an 'artificial pancreas.' It is powered by a MEMS Fabricated, nano-processed, micro-biosensor platform, and its cellular connectivity alerts patients and others of pending crisis events before they occur.
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| Technology / Differentiation |
| Advanced Biosensors' micro-biosensor is small, painless, and requires no insertion device. Wearable for three to seven days, the monitor penetrates only 1/16th of an inch into the skin to measure glucose levels in the skin. Use of this device requires minimal training, and leaves minimal scarring on the patient's skin. |
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| Market / Customers |
Merrill Lynch estimated the glucose monitoring market at $7.4 billion in 2006, with expected growth of 10-12 percent per year. The United States spent $218 billion on diabetes in 2007, as reported by Novo Nordisk. To generate near-term income, Advanced Biosensors will market to professional veterinarians for the companion animal market. The micro-sensor platform can also be applied to other markets: lactate for athletes, glucose and urea for kidney dialysis patients, thyroid for metabolic function and drug development. The company's marketing strategy will create rapid awareness and generate substantial sales for a patient, doctor, and educator-friendly product. There are currently 76,000 veterinarians in the United States treating approximately 520,000 cats & dogs with diabetes. Over 240 million humans worldwide currently suffer from diabetes.
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| Competitors / Substitutes / Alternatives |
Medtronic MiniMed, Abbott Diabetes Care & DexCom have FDA approved continuous monitors on the market for personal use. Several other manufacturers have In-hospital units in development. Many of these are very large for use in the OR or ICU, have power cords, and fiber optic or blood lines directly into the patient. The company's system is completely wireless, unobtrusive, and extremely compatible with hospital Information Technology systems.
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| Funding |
| A Round $400K
B Round $2.5 MM
(both OPEN) |
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| Status |
| Dr. Kretz, the company's CEO, designed and received FDA 510(k) approval of an insulin infusion pump in just 46 days. Advanced Biosensors has proven the efficacy of its basic, one-hair thick sensor in table-top experiments and now must verify sensor performance in animals. It will file Intellectual Property patents for its minimally invasive system to become eligible for grants and additional funding. The company is currently a sub-S corporation chartered in the State of Ohio in April 1999. Periodic Angel investments of $100,000 have been used to bring the company to its current state of operations. |
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Biotech & Specialty Pharma
Healthcare Services
Medical Devices & Tech
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