Connect with us

Biotech

Medicsen Raises One Million and Prepares the Market Launch of its Device

Spain is considered an attractive market for Medicsen, as this country has the second-highest prevalence rate of diabetes in Europe, according to data from the International Diabetes Federation (IDF). Starting with this year’s round, the company plans to integrate its software and hardware products into one. The former predicts blood glucose levels and advises the patient, while the latter administers drugs through the skin.

Published

on

Medicsen is preparing to launch its new device on the market. The Spanish startup has raised one million euros, which it will use to complete the preclinical phase of its electronic device designed to inoculate insulin without the need for needles.

Looking ahead to 2022, the company will open another round of between $4.6 and $6.9 (€4 and €6 million), with the aim of going to market in 2023. Medicsen’s frame of reference will be the European Union (EU), as Eduardo Jorgensen, CEO of the company, explained to PlantaDoce.

Starting with this year’s round, the company plans to integrate its software and hardware products into one. The former predicts blood glucose levels and advises the patient, while the latter administers drugs through the skin. Jorgensen says the company has already entered into “strategic alliances” with several companies in the pharmaceutical industry.

Read more about Medicsen and its new device and find the most important biotech news in the world with our companion app. The Born2Invest business news mobile app keeps its readers up to date with the latest market updates.

Medicsen has already entered into strategic alliances with several companies in the pharmaceutical industry

In 2021, Medicsen obtained the PCT patent and the marking from the European Commission (EC), which has validated Suggin. This application is responsible for predicting glucose levels in real-time, connected to the user’s activity sensors. In addition, it also takes into account the user’s lifestyle and diet.

Medicsen has offices in Madrid, Barakaldo, United Kingdom, Australia, and Poland, territories in which, throughout its history, it has found financial backing. In fact, the Australian authorities financed the development of the startup with $100,000.

SEE ALSO  Warren Buffett's non-negotiable investments for success

The company was founded by Jorgensen, when he was studying medicine, together with two fellow telecommunications engineers, César de Mercado, José Carlos Montesinos, and Dr. Patricia Cremades. De Mercado is currently the company’s chief operating officer, Montesinos is the technical head of information systems, and Cremades acts as executive director of the strategy area.

Medicsen has offices in Madrid, Barakaldo, United Kingdom, Australia and Poland

Spain is considered an attractive market for Medicsen, as this country has the second-highest prevalence rate of diabetes in Europe, according to data from the International Diabetes Federation (IDF).

In Spain, the number of people with diabetes has reached 5.1 million people, an increase of 42% compared to 2019 data. Currently, 14.8% of the Spanish population suffers from this disease.

__

(Featured image by jaytaix via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Olivia McCall is passionate about education, women and children’s rights, and the environment. A long-time investor, she covers news about the latest stocks (lately marijuana and tech), IPOs and indices, and is always on the lookout for socially responsible startups. She also writes about the food sector, and has a keen interest on cryptocurrencies.