Cell Robotics International, producer of the laser capillary blood-sampling device announces that it has retained H. C. Wainwright & Co to assist in raising near-term operating and expansion capital and to provide other financial services.
H. C. Wainwright is a Boston based national investment banking firm with a major branch in New York City. Over 100 years old, they are a national, investment banking firm specializing in establishing long-term banking relationships with high-growth micro and small market capitalization companies.
Cell Robotics also announces that it received additional orders from China. These orders provide for sales of an additional 750 Lasettes and 1.5 million clinical disposables within the next 10 months. The distributor has also committed to order an additional 1,500 Lasettes in the 12 months thereafter, plus the approximately 15,000,000 corresponding disposable and has an internal target of sales of 1,000 and 4,000 Lasettes in the respective time-periods.
In China, major hospitals and clinics perform hundreds, often thousands of procedures a day using lancets to draw capillary blood for general analysis. Concern about a needlestick accidents causing transmission of HIV and Hepatitis B, and C has become a concern to medical professionals in China. Thus, there is a need for a needleless system for the sampling of blood. In addition, diabetes is often treated, due to the patients economic circumstances, by having the patient come to the clinic each morning for a testing their blood sugar level, to determine the appropriate insulin shot to be given.
To save money, clinics are tempted, especially outside the main hospitals, to reuse needles after immersing them in a cleaning solution, which may not kill all pathogenic agents. Therefore, a strong market pull exists for having a needleless system to eliminate cross-contamination accidents.
Cell Robotics produces the Lasette, which is a small portable laser that is used for sampling capillary blood in a way that is virtually painless, essentially eliminates soreness and minimizes oozing from the wound and abolishes needle phobia. The patented Lasette is cleared by the FDA for use in the clinical setting to protect healthcare workers and in the home by people with diabetes to sample their blood for glucose measurements.
Cell Robotics International is a medical products company striving to enhance patient quality-of-life through technology. Cell Robotics develops, sells, and markets technologically unique devices that respond to the rapidly increasing market demand for products that offer more effective, safer, and less painful solutions than conventional procedures. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
