Sources inform ''Globes'' that Glucon Inc.’s prototype device for alerting hyperglycemia (high blood sugar) in hospitalized patients is conducting clinical trials. The company has kept quiet about the device until now, disclosing no details about it. It now turns out that the company’s device reached clinical trials with the market being aware of it.
Glucon CEO Dan Goldberger admits, “We had in interest in taking our competitors by surprise.” The company is preparing for regulatory submission to the US Food and Drug Administration (FDA).
A month ago, “Globes” reported that Glucon was laying off at least six of its staff in Israel. Today, Goldberger said the company moved its headquarters to the US, and was forced to fire 11 of its 18 R&D employees. If and when the device is successful, the company will hire sales and marketing staff in the US.
Some of the patients for which the device is intended are diabetic patients at hospitals, while others suffer from hyperglycemia as a result of stress caused by their hospital stay or from medication. Blood sugar level is usually measured by pricking the finger, a procedure carried out by a nurse every hour and considered wasteful of human resources.
Glucon’s product combines an intravenous needle, which most patients already have, and a device that automatically reads blood sugar levels every 30 minutes, and sounds an alarm if the level is excessive. The market for the device is estimated at $600-800 million. Two other companies are developing similar devices, but development of their products is less advanced. Glucon believes that its product is more accurate and easier to use than the products of its competitors.
Published by Globes [online], Israel business news - www.globes.co.il - on July 26, 2006
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