SINGAPORE--(Marketwired - Jan 8, 2015) - Glucose monitoring innovator Sentec Pte Ltd today announced that it has raised $800,000 (S$1,000,000) in incubation financing and support from Singapore-based Get2Volume, co-funded by the Singapore National Research Foundation. Sentec will use the funds to commercialize its cassette-based blood glucose monitor system.
Sentec's patented NoStrip™ technology platform eliminates the need for individual Blood Glucose Monitor (BGM) test strips by placing multiple test zones on a continuous test tape (CTT) housed in a cassette with a capacity of up to 50 tests. The innovative, proprietary design and construct of the CTT requires fewer components than existing test strips, and has the potential to significantly improve patient convenience and compliance, while also lowering manufacturing costs. Diabetics using Sentec's integrated NoStrip BGM will no longer need to dispose of individual contaminated test strips after each test, and will enjoy a convenient, discreet and safer-to-use blood test without sacrificing test capacity, accuracy, speed or comfort.
"Diabetes is a global epidemic," noted Dr. Roobik Azarnia, president & chief scientific officer of Sentec. "There are more than 285 million diabetics worldwide, and this number is expected to grow to over 400 million by 2025. Sentec enables a safer, more convenient and less expensive way for those with diabetes to measure their glucose levels."
Established in August 2011, Sentec is a Singapore-based developmental stage in-vitro diagnostics (IVD) company targeting the large, high-growth market for Self-Monitoring of Blood Glucose (SMBG). The company is dedicated to the discovery, development and commercialization of technologies that enable diabetics to test their blood glucose levels more conveniently, and at a much lower cost.
"Diabetes is a huge problem worldwide, and Sentec has developed an excellent way for those with diabetes to better manage their disease," said Mike Holt, CEO, Get2Volume. "We are excited to be a part of Sentec's next phase of growth."
For more information, visit www.sentecscientific.com.
About Get2Volume
Get2Volume, headquartered in Singapore, invests in, mentors and helps grow innovative microelectronics-centric companies. Get2Volume brings global capabilities, capital and connections to enable success. With incubation managers and venture partners in Silicon Valley and Singapore, Get2Volume provides mentorship, operational and execution capabilities. Get2Volume co-invests with the Singapore National Research Foundation providing funding to enable growth for early stage Singapore high-technology start-up companies.
For more information, visit www.g2vaccelerator.com.
About Sentec
Established in Singapore in 2011, Sentec is dedicated to the discovery, development, and commercialization of technologies that enable diabetics to test and manage blood glucose levels more conveniently and effectively than current solutions.
For more information, visit www.sentecscientific.com.
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