A south Wales medtech firm developing the world’s first wearable, real-time, blood glucose sensor for diabetes sufferers, has been hailed as an “innovative success story” by the director of CBI Wales following a significant funding boost earlier this year.
Ian Price said Afon Technology, based in Caldicot, was boosting economic growth in the country by creating high-skilled jobs with its pursuit of creating a breakthrough non-invasive wearable blood glucose monitoring device.
The startup received a £2.1m funding boost from the European Innovation Council to support its commercialisation plans. This follows a £600,000 seed equity investment from an undisclosed investor.
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After visiting the firm at its premises at Castlegate Business Park, Mr Price said: “I’m delighted Afon Technology chose south Wales to make a product that will improve the lives of people with diabetes. I was impressed by the facilities during my visit. Afon Technology is an innovation success story, creating skilled jobs, manufacturing, and boosting economic growth in Wales.”
Afon was given membership to the CBI in Wales by Mr Price to help the company integrate with the Welsh business community.
Unlike current devices, Afon’s technology will allow for the measurement of blood glucose levels without the need to penetrate the skin, making it easier to manage the condition and reducing the risk of diabetes-related complications such as heart attack, stroke, blindness, kidney failure and limb amputations.
The compact device is designed to be worn with a watch strap connected via bluetooth to the user’s smart watch/device - giving users freedom from the constraints of conventional finger-stick devices.
Afon Technology’s CEO Sabih Chaudhry said: “Without using needles the pain-free Afon device will simply sit on the underside of your wrist and communicate vital information via Bluetooth to your chosen smart device.
“Diabetes can be incredibly limiting to someone’s life, but we believe we’ve created a device which will provide the wonderful feeling of freedom all wrapped up in a watch on the wrist.”
Preliminary clinical research gives developers hope that such a device could become a reality in the near future. Companies such as Apple, Samsung and Google are rumoured to be trying to develop their own non-invasive device but so far none have been successful.
Afon Technology, which is aiming to win the race to this milestone, said its device is set to undergo another round of clinical trials and hopes it will be available to purchase from the end of next year.
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