[ASC-media] Thumb pricks a thing of the past

Mary Mulcahy Mary.Mulcahy at uts.edu.au
Thu Oct 12 05:18:57 CEST 2006


Thursday 12 October 2006

Thumb pricks a thing of the past

Development of technology that could save the lives of young patients
with diabetes has taken a step closer with the announcement of venture
capital funding of up to $4.5 million.

AiMedics Pty Ltd, a spin-out company of the University of Technology,
Sydney, has announced that venture capital funding of up to $4.5 million
in two tranches had been agreed to between GBS Venture Partners (GBS)
and the initial AiMedics investors.

The new funding will be used to further the development of HypoMon®, a
non invasive self-monitoring product for alerting insulin-dependent
patients with diabetes of dangerously low blood sugar.

Abnormally low blood sugar levels (hypoglycaemia) can be fatal for
diabetics. When this happens at night the risk of death is increased as
the blood is not monitored during sleep. Children under 5 years have a
higher incidence of hypoglycaemia at night than older children and
adults with diabetes.

"I realised how important this device was when I spoke to the mother of
a three year old boy who is a young patient with diabetes," UTS
Professor Hung Nguyen said. "This dedicated mother would wake up and
check on him every two hours during the night to make sure that her son
was OK."

"A device that could constantly monitor blood sugar levels and sound an
alarm if they got too low would allow parents to get a good night's
sleep and ease some of their worry."

The novel non-invasive technologies incorporated in the HypoMon® are
designed to detect the onset of hypoglycaemia with a high degree of
accuracy. Periods of low blood sugar can contribute to chronic
complications in diabetic patients and in severe cases can result in
coma or even death. The current market for all forms of diabetes self
monitoring products is estimated to be $4 billion annually and is
forecast to grow to $11 billion by 2009.

GBS is one of Australia's leading life sciences venture capital groups
and has had considerable success in building companies based on
Australian technology.

The HypoMon® device has evolved through collaboration between the
University of Technology, Sydney, Health Care Technology Ltd and
AiMedics Pty Ltd. AiMedics was established in 2001 as a spin-out company
from the University of Technology Sydney and is based around a patent
portfolio created by Professor Hung Nguyen AM PhD and Dr Nejhdeh
Ghevondian PhD.

Ends...

Further Information:
Victor Skladnev, CEO AiMedics, (02) 9209 4514 or 0400 933 810
http://www.aimedics.com
Professor Hung Nguyen, 0407 447 387

-- 
Terry Clinton
Media Officer, Media Branch
Marketing and Communication Unit
University of Technology, Sydney
PO Box 123 Broadway
NSW 2007 Australia
Tel +61 2 9514 1623  Fax +61 2 9514 1616
Mob 0419 293 261
UTS Experts: online at http://www.experts.uts.edu.au
U: magazine online at http://www.u.uts.edu.au


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