OSLO, NORWAY: Lifecare, a company that is developing a long-lasting glucose sensor for people with diabetes, is launching a new subsidiary called Lifecare Veterinary. The new company will use the same sensor technology to help animals suffering from diabetes.
The sensor, which is the size of a grain of rice, will be implanted in the subcutaneous tissue at the wrist and will continuously communicate with a smart device. The sensor will function as a measuring instrument that shows the glucose level of the animal.
Lifecare Veterinary is led by Jo Amundstad, a veteran veterinarian and entrepreneur who has built up several businesses in the veterinary sector. He contacted Lifecare when he recognized the potential for using its sensor technology for animals.
Lifecare said that its main focus will still be the development of the sensor for humans, which addresses a patient population of over 530 million people with diabetes. The company recently completed its first human clinical development study and said that its development is so advanced that it can start thinking about commercialization to a greater extent.
The company said that the spin-off investment in giving animals the same health benefit can provide enormous market potential and increased animal welfare. The company also said that it sees potential in other markets beyond the glucose segment, based on its advanced miniaturized sensor, based on nanotechnology and 3D printing.