Singapore, January 10, 2014 - Commercializing its cassette-based blood glucose monitor system, Sentec today announced it has secured financing, raising US$800,00 (S$1,000,000) and incubation support from Singapore-based Get2volume, who will incubate Sentec with co-funding from the Singapore National Research Foundation.
Established in August 2011, Sentec Pte Ltd is a Singapore-based developmental stage in-vitro diagnostics (IVD) company targeting the large, high-growth market for Self-Monitoring of Blood Glucose (SMBG). The company is dedicated to the discovery, development, and commercialisation of technologies that enable diabetics to test their blood glucose levels more conveniently, and at much lower cost.
Sentec's patented NoStrip™ technology platform eliminates the need for individual Blood Glucose Monitor (BGM) test strips by placing multiple test zones on a continuous test tape (CTT). The innovative, proprietary design and construct of the CTT requires fewer components than existing test strips, and thus has a potential to significantly improve patient convenience and lower manufacturing costs. Diabetics using Sentec's integrated NoStrip™ BGM will enjoy a more convenient, discreet and safer to use blood test without sacrificing test capacity, accuracy, speed and comfort.
“Diabetes is a global epidemic: there are an estimated 285M+ diabetics worldwide (>40% in Asia), expected to grow >30% to over 400M by 2025,” said Dr. Roobik Azarnia, founder and CEO of Sentec. “Sentec enables a lower cost, safer and more convenient way for those with diabetes to measure their glucose levels”.
“Diabetes is a huge problem worldwide. Sentec has developed a great way for those with diabetes to better manage their disease,” said Mike Holt, CEO Get2Volume. “We are excited to be a part of Sentec’s next phase of growth”.