Pelikan bags $69m for diabetes monitoring technology:
This article was originally published in Clinica
Executive Summary
Palo Alto, California-based Pelikan Technologies is to take its Pelikan Sun electronic lancing device to the US after raising $89m through a series F equity financing and a venture loan facility. The series F round, which raised $69m, was led by Clarus Ventures. The $20m debt financing was provided by General Electric Capital and Oxford Finance. The Pelikan Sun has been approved by the FDA and was recently launched in Australia and Europe. Its US debut is slated for the first quarter of 2008. Pelikan Technologies said it will also use the new capital to complete development of its next-generation, fully-integrated blood glucose system and finance the launch of the product, which is also expected next year.