Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
Email Facebook Twitter Google+ LinkedIn Comments

Abbott Labs Completes Purchase of SpectRx Stock
Jan 2000
NORCROSS, Ga., Jan. 5 -- Abbott Laboratories has purchased $2.5 million in convertible redeemable preferred stock of SpectRx Inc., bringing Abbott's total purchase of SpectRx stock to $5.25 million. SpectRx reported that the stock purchase was part of an agreement between the two companies to jointly develop a continuous glucose monitor for diabetics. The agreement assigns to Abbott exclusive worldwide marketing rights to continuous monitoring applications and to single-use monitoring applications of the technology. SpectRx will receive a royalty on sales of disposable devices, and will have the option to manufacture continuous monitoring devices for Abbott.
The monitor uses a surface-worn patch containing a glucose sensor -- based on SpectRx's biophotonic technology -- to measure glucose levels in interstitial fluid (ISF). ISF is collected through an array of micropores created with a laser in the stratum corneum, or dead outer layer of skin. According to SpectRx, prototypes of the device have shown it capable of providing one reading per minute.

News & FeaturesSensors & Detectors

Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2018 Photonics Media, 100 West St., Pittsfield, MA, 01201 USA,
x We deliver – right to your inbox. Subscribe FREE to our newsletters.