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Pelikan Swoops in on the Big Four

Following the strategy of those icons of success in the diabetes industry, Medisense and Therasense, Pelikan Technologies is executing well on its plan to develop a glucose monitoring platform that offers convience and freedom from pain, to reduce the current hurdles that prevent patients with diabetes from testing as much as they should. (Part of a group of articles that includes: "Where are They Now? Checking in on Three Glucose Monitoring Companies," "A Decade of Development of SMSI: Will it Yield Improved Accuracy in CGM?" and "GlucoLight: Making Non-Invasive Glucose Monitoring Real."

Since we last spoke with the management of Pelikan Technologies Inc. in 2003, the company has accomplished three rounds of funding, raising an additional $127 million in equity as well as $20 million plus in venture loans. (See Exhibit 2). [See Deal][See Deal] In the past three years, Pelikan has acquired and integrated a company developing an advanced electrochemical sensor, Inventus BioTec (renamed Albatros Technologies), as a core component of its future one-step glucose monitor,[See Deal] lined up a manufacturing partner, Flextronics International (the same contract manufacturer with which Insulet Corp. has an outsourcing agreement on its disposable insulin pumps), and launched its first-generation product, the Pelikan Sun electronic lancing device, to markets in Europe and Australia, with its US release imminent.

The company is executing well on its original plan to develop a product that offers convenience and freedom from pain, to reduce the current hurdles that prevent patients with diabetes...

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