Lifecare has signed a Letter of Intent (LOI) with Innovationspark Mainz to develop a manufacturing facility in Mainz for the production of Lifecare sensors.
Lifecare: Ticker: LIFE | Price: NOK 4,23 | Market Cap.: 449MNOK | YTD price development: 0%
Diabetics need to check their blood sugar levels several times a day. This is typically done by a blood test. Lifecare has developed a sensor (Sencell) that, inserted under the skin, continuously monitors blood glucose levels.
Ongoing study for Sencell
Lifecare is in its first human clinical trial (LFS-SEN-001). The study involves 10 healthy subjects and 5 patients with type 1 diabetes. The study aims to show proof of concept for Sencell and is expected to be completed in September. If the study is successful, larger clinical trials will be initiated.
New production facility in Mainz
Lifecare’s agreement with Innovationspark Mainz on production facilities for Sencell indicates that Lifecare has obtained positive data or at least has a presumption of obtaining it. Any positive study data is considered a significant price trigger.
High market potential
Lifecare is participating in the EU project FORGETDIABETES, which aims to develop an implantable artificial bionic pancreas. Lifecare contributes sensor innovations and the project received €3.9 million in funding from the European Commission in 2020. A European Commission expert group also rates Lifecare’s sensor innovations as market-ready and among the top 14% of innovations that have received European Commission funding.
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