Afon Technology Ltd is developing a non-invasive continual blood glucose monitoring device that delivers results in real-time, enhancing the take up and quality of daily management programs for diabetics. There is no other non-invasive blood glucose monitoring system that can measure blood glucose in real time and continuously.
The device is aimed at the 463 million adults that suffer from diabetes worldwide, a figure that is expected to increase to 700 million by 2045.
Recent trials in a world leading diabetes test facility in Germany, Profil, GmbH, have demonstrated the efficacy of the technology with performances on par to those achieved with commercial invasive devices. The company is seeking to raise a further circa £2m to develop the device ready for CE marking and FDA approval.
The results of the recent clinical trial in Germany were presented by Profil at the International Conference on Advanced Technologies & Treatments for Diabetes (ATTD) in Madrid during February 2020. There was considerable interest in the Company’s technology from leading medical device companies as well as large incumbent technology companies operating in the wearable smart device sector.
|Product||MedTech Growth EIS|
|Aim of funding||Growth|
|HMRC Advanced Assurance received||Yes|
|Envisaged investor exit||2-3 years|
|Targeted return||In excess of 6 x capital invested|