Norwegian life-sciences group Lifecare AS plans to begin trading today on the Merkur Market under the ticker symbol ‘LIFE-ME’.
The company is developing an implantable glucose sensor designed for people living with diabetes.
“People with diabetes must watch closely their glucose levels to get the right amount of insulin at the right time. Diabetics deserve a modern tool with new features for glucose monitoring that is more convenient, more precise and more trustworthy. Going public, we expect that Lifecare will give additional momentum and contribute to address diabetes, one of the biggest lifestyle diseases that we are facing,” chairman Christian Saure said in prepared remarks.
The company is developing its device, Sencell, to be worn for at least six months.
“The sensor detects changing glucose levels by osmotic pressure. We can read the glucose levels continuously. These levels will be communicated wirelessly to your watch or phone in proximity,” CEO Rune Frisvold added. “We are going to finalize the clinical trials, apply for European approval and develop a working prototype within the next three years.”