Bergen, Norway, June 10th, 2024: Today, Lifecare ASA (LIFE), a clinical stage
medical sensor company developing the next generation Continuous Glucose
Monitor (CGM), announces that the company have improved the read-out distance
from sensor to the read-out device.
Reference is made to previous communications in the Q1 reporting regarding the
need to improve the read-out distance to start the pending longevity study.
This longevity study on dogs will be performed at the Norwegian University of
Life Sciences (NMBU), located in Ås, close to Oslo.
In the longevity study, the company will introduce wireless communication
between the implanted sensor and the outside read-out device. The Lifecare
team has been working with external specialized consultants to improve the
signal read-out distance to meet requirements, as defined by Lifecare.
The reports from factory acceptance tests conducted by Lifecare confirms
satisfactory read-out distance. This conclusion being important for two
reasons. Firstly, this means that Lifecare now are ready to start the
longevity study in dogs, only pending final internal in-vitro sensor quality
control. Secondly, the confirmed read-out distance meets Lifecare's
requirements from a product development perspective, additional improvements
for distance read-out are not expected to be necessary going forward. Given
that the quality in-vitro testing goes as planned, the longevity study can
start at NMBU in mid-June.
- Integration of wireless communication in our state-of-the-art sensor is a
sensitive matter, although solvable. Our engineers and scientist have improved
the read-out distance. For us, this was a question of when, not if, we could
meet the defined requirements. Now we can look forward to starting the
longevity study in June. Furthermore, given good results from the longevity
study and the ongoing progress towards automated production, the confirmed
read-out distance is an important progress towards product readiness in the
veterinary market, says CEO Joacim Holter at Lifecare.
Managing Director, Jo Amundstad of the subsidiary Lifecare Veterinary, will be
responsible for carrying out the study in collaboration with NMBU. - We are
fortunate to have with us some of the leading experts in internal medicine at
NMBU to take part in the studies. Among these, PhD candidate Sivert Nerhagen
has already been employed. He has taken part in the important preparations for
the longevity study, says Amundstad. He points out that the recruitment
process of patients for the study also is well under way.
About us
Lifecare ASA is a clinical stage medical sensor company developing technology
for sensing and monitoring of various body analytes. Lifecare's main focus is
to bring the next generation of Continuous Glucose Monitoring ("CGM") systems
to market. Lifecare enables osmotic pressure as sensing principle, combined
with the ability to manipulate Nano-granular Tunnelling Resistive sensors
("NTR") on the sensor body for read-out of pressure variations. Lifecare's
sensor technology is referred to as "Sencell" and is suitable for identifying
and monitoring the occurrence of a wide range of analytes and molecules in the
human body and in pets.
Contacts
For further information, please contact:
Joacim Holter, CEO, joacim.holter@lifecare.no, +47 40 05 90 40
Renete Kaarvik, CFO, renete.kaarvik@lifecare.no, +47 94 83 82 42
This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 19 no. 3. The information was submitted for publication
at 2024-06-10 08:25 CEST.