Mendor Ltd.

Article preview from Start-Up - July, 2013

 Mendor Ltd. says it’s unique in the diabetes space because it has integrated its diagnostic blood glucose meter Discreet with a software application for tailoring patient pharmaceutical treatment. Using the device, which contains a built-in lancing pen and cartridge within a cell-phone-sized plastic cover, diabetics can take their glucose readings in less than 20 seconds, even on the run.

Mendor Ltd.

Article preview from Start-Up - July, 2013

Two members of the now-defunct popular Finnish heavy metal band Norther have gone corporate by co-founding a diabetes-care company. The inspiration? The band’s keyboard player, Tuomas Planman, has a younger brother, Jukka Planman, who is a diabetic. Jukka also is one of the company co-founders, along with band guitarist and vocalist Kristian Ranta, among others.

Mendor Ltd. is unique in the diabetes space in that it has integrated its diagnostic blood glucose meter Discreet with a software application called Balance for tailoring patient pharmaceutical treatment. “We have developed an algorithm that is a cloud-based software package for profiling patients with diabetes,” says CEO Ranta. “Often with diabetes, there are no real or adequate data and information backing the decisions of physicians in prescribing drugs or for doing other interventions. Our technology provides a cost-effective and rapid method to help health care professionals and people with diabetes understand the underlying trends of glucose behavior by accumulating pre- and post-meal measurements, for instant, through a patent-pending algorithm calculation.”

For its two devices, Mendor has targeted frequently measuring patients (several times a day) who typically take insulin, which represents about 20% of all diabetics, or roughly 40 million of 200 million people globally, for about an annual market cap of approximately $2 billion. Discreet was CE marked in July 2010, followed by Balance in June of this year. 510(k) clearance is expected for both devices in either 2014 or 2015.

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