Updated on 4 May 2012
The HypoMon technology has real clinical application and a strong business model. These positive points and a strong management team allowed AIMEDICS to present a good case to the government, private equity and diabetes consumer organizations to support research and development initiatives. The HypoMon technology received an award of $1.9 million from Australian Ministry for Innovation, Industry, Science and Research to help reduce the risk of nocturnal hypoglycaemia. The grant allows AIMEDICS to capitalize on the market opportunity and maintain the company's great growth momentum.
Besides a grant from the Australian government, HypoMon obtained CE certification and AIMEDICS received ISO13485 accreditation which proved its quality and safety.
HypoMon is creating a new market for non-invasive and accurate detection of nocturnal hypoglycaemia which has a market demand. Plus, it positions AIMEDICS as the leader in this new market space. HypoMon has already developed its community in the UK, Australia and in other countries through many leading organizations and associations. In the UK, organizations such as Juvenile Diabetes Research Foundation, Diabetes UK, Children with Diabetes UK, INPUT, Insulin Pumpers UK, Association of Children's Diabetes Clinicians, The British Society for Paediatric Endocrinology and Diabetes, and in Australia, many organizations such as Diabetes Australia, JDRF Australia, the Australian Diabetes Society, the Australian Diabetes Educators Association, and global bodies like The International Diabetes Federation, The American Diabetes Association, and Hypoglycaemia Support Foundation have became the HypoMon community.
Sharing his thoughts on the future plans for the product, Mr Victor Skladnev says, "In addition to the standalone HypoMon, the technology has application in the closed loop artificial pancreas program. Specifically, fusing the data of HypoMon and continuous glucose monitoring increases the performance for detecting hypoglycaemia. Thus, insulin pumps could incorporate this hypoglycaemia information to provide a true nocturnal closed loop system that would satisfy different regulatory bodies."
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