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Success of Cellnovo’s IPO with €31.6 million raised on Euronext in Paris

By Cellnovo, Press Release
Press Release.


  • Offer price set at €10.63 per share
  • Market capitalization of €113.6 million
  • Funds to develop production capabilities and accelerate commercial expansion

Paris, France, July 9, 2015 – Cellnovo Group (« Cellnovo »), a medical technology company that has developed and markets the first connected all-in-one diabetes management system, today announces the success of its Initial Public Offering in compartment C of the Euronext regulated market in Paris (“Euronext Paris”), raising €31.56 million through a capital increase.

The Open Price Offering and the Global Placement price has been set at €10.63 per share. The total number of shares issued will be 2,969,557, resulting in a capital increase of €31.56 million. Based on a total of 10,683,873 shares to be admitted to the market and a price of €10.63 per share, Cellnovo’s market capitalization will be €113.6 million at the end of the operation. Cellnovo has granted Société Générale acting in the name and on behalf of the banking syndicate an overallotment option, exercisable from today until August 7, 2015 included, on a maximum of 80,000 new shares or approximately €0.85 million.

The shares offered within the framework of the Offering will be allocated as follows:

  • Global Placement: 2,806,823 shares allocated to institutional investors (which represents approximately €29.8m and 94.5% of the total number of shares allocated);
  • Open Price Offering: 162,734 shares allocated (which represents approximately €1.7m and 5.5% of the total number of shares allocated);
  • In respect to the Open Price Offering, A1 orders will be 100% satisfied and A2 orders will be 100% satisfied.

The settlement/delivery of issued shares in the Open Price Offering and the Global Placement will take place on July 13, 2015. Shares will begin their conditional trading on Euronext Paris from July 10, 2015 at 9.00 AM CET in the form of undertakings to deliver shares (promesses d’actions) until July 13, 2015, and will be traded under ISIN code FR0012633360 and ticker CLNV from July 14, 2015 onwards.

In a very difficult context on the financial markets, the offering benefited from the demand of few leading, long-only French and international investors.

Eric Beard, Chairman & CEO of Cellnovo states:

“We are delighted to announce the success of Cellnovo’s IPO and to be joining Euronext Paris. We are pleased with the interest shown for the placement, despite difficult market conditions, and we welcome new top-quality investors alongside our historical shareholders and Air Liquide Venture Capital. We thank each of them for putting their trust in our disruptive insulin pump technology. The funds raised in this offering will be mainly allocated to finance the scale-up of our production capabilities and the speed-up of our commercial expansion. We look forward to working with our investors towards bringing forward our new and innovative diabetes management system.”

Reminder of the use of proceeds

  • Scale-up its production capabilities;
  • Pursue its R&D investments;
  • Accelerate its commercial expansion, through proprietary sales force and specialized distributors;
  • Finance the obtainment of market approvals in the United States and in other key geographies; and
  • Finance the operational expenditure and the working capital requirement of the Company.

IPO schedule – Next steps

July 10 2015 – Beginning of conditional trading in the Company’s shares on Euronext Paris (in the form of undertakings to deliver shares (promesses d’actions) until July 13 inclusive, 2015)

July 13 2015 – Settlement and delivery of the Offering

July 14 2015 – Beginning of unconditional trading in the Company’s shares on Euronext Paris on the line “CLNV “

August 7 2015 – Deadline for exercise of the Overallotment Option
– End of stabilization period, if any

Identification codes for Cellnovo shares

  • ISIN code: FR0012633360
  • Mnemonic: CLNV
  • Section: Compartment C
  • Business sector :  NAF Code: 4651Z – Wholesale trade (business to business) of computers, IT peripheral equipment and software

ICB classification: 4535 – Medical Equipment

Information available to the Public – Copies of the prospectus in the French language (the “Prospectus”), which received a visa from the AMF on June 26, 2015 under number 15-313, comprising a document de base registered with the AMF on February 27, 2015 under number I.15-008 (the “Document de Base”) and a securities note (the “Securities Note”) including the summary of the Prospectus, may be obtained free of charge at the company’s headquarter, (26-28 rue de Londres 75009 Paris, France) as well as from the company’s ( and the AMF’s ( websites.

Risk factors – Cellnovo draws the public’s attention to the business-related risks described in Chapter 4 “Risk Factors” of the Document de Base as updated by Chapter 10 “Additional Information” of the Securities Note and the offer-related risks described in Chapter 2 ”Offer-related Risk Factors” of the Securities Note.

About Cellnovo

An independent medical technology company specialising in diabetes, Cellnovo has developed and markets the first connected all-in-one diabetes management system that helps make life easier for patients. Compact, tubeless, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with an integrated blood-glucose meter. With Cellnovo’s device, certain aspects of diabetes management still require an action from the patient (blood glucose monitoring and injection of insulin just before meals).This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real-time.
Cellnovo aims to improve the quality of life of patients with type 1 diabetes and more generally all people living with insulin dependency, by using its technology to minimise the constraints and risks associated with this illness.
The current version of the system has already received CE Marking, is reimbursed in most countries and is already being marketed in France and the United Kingdom. Cellnovo has a clearly-defined expansion strategy that involves accelerating the product’s commercialisation, initially in Europe and then in the United States and Asia, and increasing its production capacity to cope with the expected high level of demand.
The insulin pump market is currently estimated to be worth around 2.2 billion dollars, and has substantial potential given that only 17% of the 3.5 million people with type 1 diabetes (in the US/Canada and main European countries) currently use a pump.
Based in France and the United Kingdom, Cellnovo has a 75-strong workforce.

For further information please visit

Sophie Baratte

Relations investisseurs
Antoine Denry
+ 33 1 44 71 94 95

Relations Médias
Nicolas Merigeau
+33 1 44 71 94 98

The First Connected All-in-one Diabetes Management System

This press release and the information it contains does not, and will not, constitute a public offering to subscribe for or sell, nor the solicitation of an offer to subscribe for or buy, securities of Cellnovo in any jurisdiction, including the United States, Canada, Australia or Japan. No public offering can be made now or in the future without the prior approval by the French Financial Markets Authority (“AMF”) of a prospectus that consists of the Base Document (document de base), which is the subject of this press release, and a Securities Note (note d’opération) subsequently submitted to the AMF. The publication or distribution of this communication may violate applicable laws and regulations in some jurisdictions. Therefore, persons in such countries and in countries in which this communication is broadest, published or distributed must enquire about any local restrictions and comply with them.

In particular:

Cellnovo securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Cellnovo does not intend to register any securities in the United States or to conduct a public offering of securities in the United States.
This communication is an advertisement and does not constitute a prospectus for the purposes of the Prospectus Directive (as defined below). A prospectus prepared pursuant to the Prospectus Directive may be published, which, as and when published, can be obtained in accordance with the Prospectus Directive.
In relation to each Member State of the European Economic Area which has implemented the Prospectus Directive (each, a “Relevant Member State”), no action has been taken or will be taken to offer securities to the public that requires the publication of a prospectus in any Relevant Member State other than France. Cellnovo securities may be offered in a Relevant Member State (other than France) only (i) to any legal entity which is a qualified investor as defined in the Prospectus Directive; (ii) to fewer than 150 natural or legal persons (other than qualified investors as defined in the Prospectus Directive); or (iii) in any other circumstances falling within Article 3(2) of the Prospectus Directive, provided, that no such offer of securities shall require Cellnovo to publish a prospectus pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive.

For the purposes of this provision, the expressions “public offering” and “offer to the public” in relation to any Cellnovo securities in any Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the securities to be offered so as to enable an investor to decide to purchase or subscribe the securities, as the same may be varied in that Member State by any measure implementing the Prospectus Directive in that Member State. The expression “Prospectus Directive” means Directive 2003/71/EC (as amended, including by Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) persons in the United Kingdom who have professional experience in matters related to investments and who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “relevant persons”). Cellnovo securities will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire Cellnovo securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this release or any of its contents.

All statements other than statements of historical fact included in this press release about future events and are subject to (i) change without notice and (ii) factors beyond the Cellnovo’s control. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond Cellnovo’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

Cellnovo launches first Mobile Diabetes Management System at the ATTD Conference in Vienna, Austria

By Cellnovo, Press Release
Press Release.


Real-time tracking – an industry first for insulin pump technology

Swansea, 5 February 2014 – Cellnovo, the leading innovator in Mobile Diabetes Management technology, today announces the UK launch of the Company’s unique Diabetes Management System, the first of its kind with mobile connectivity able to provide immediate, wireless data updates, displaying real-time clinical information to patients, caregivers and healthcare professionals. Cellnovo is exhibiting and demonstrating the Cellnovo System at the international conference on Advanced Technologies and Treatment for Diabetes (ATTD) in Vienna, Austria from February 5-8.

The Cellnovo System will initially be rolled out to a group of participating centres throughout the UK as part of a phased launch that started in Wales at the end of 2013. It will subsequently be made available in a selection of leading centres in the Netherlands and France during H1 2014.

Eric A. Beard, Cellnovo Executive Chairman commented:

“The feedback we have received from patients and healthcare professionals during our extensive testing, trialing and local launch phases, has been excellent. Patients love the discreetness of the pump, its intuitive operation and the immediate availability of information. Healthcare professionals appreciate the benefits of a revolutionary system like ours, giving them access to true mobile health management tools. The UK launch is a significant milestone for the Company and we look forward to rolling out the product across Europe.”

The Cellnovo System is an innovative Mobile Diabetes Management System that comprises a wireless connected patch pump and a mobile touchscreen controller with an integrated blood glucose meter (“handset”). The proprietary software provides intuitive operation, internet connectivity and real-time tracking. It is the first device of its kind designed to allow patients the freedom to enjoy a full lifestyle with the comfort that they can closely monitor blood glucose levels, insulin use, activity and diet. The online data management system also displays real-time clinical information to healthcare professionals and caregivers.

Type 1 diabetes develops when the body is unable to produce insulin. The prevalence of diabetes has reached 371 million (8.3% of the world population)1 and Type 1 diabetes accounts for 10 per cent of all adults with diabetes. Multiple daily insulin injections do not provide the continuous precise insulin delivery of an insulin pump, which most closely mirrors the release of insulin in someone without diabetes. Today, in Western Europe and North America only 20% of insulin dependent patients are on pumps.

For further information please contact:

Eric Beard, Executive Chairman    +44 (0)20 3058 1250

FTI Consulting

Julia Phillips / Simon Conway / Natalie Garland-Collins    +44 (0)20 7269 7121


1.    International Federation of Diabetes, 2012

About Cellnovo

Cellnovo, a UK-based medical device company, is a leading innovator in Mobile Diabetes Management technology. The Company’s proprietary Diabetes Management System comprises a wireless connected patch pump, mobile touchscreen handset/controller with an integrated blood glucose meter and applications. This system provides intuitive operation, wireless Internet connectivity and real-time tracking, all industry firsts which represent a revolution for insulin pump technology. For further information, please visit

Cellnovo launches world’s first mobile-connected diabetes management system

By Cellnovo, Press Release
Press Release.


LONDON UK/BARCELONA, SPAIN – February 9, 2012 – Cellnovo today announced both the launch of the world’s only mobile-connected diabetes management system, and the start of the largest usability trial ever to investigate insulin pump technology for patients with type 1 diabetes. The trial will also be the first in which all clinical data is captured remotely, in real-time; using the mobile data connectivity of the Cellnovo system.

Cellnovo’s diabetes management system comprises an insulin pump that connects wirelessly to an intuitive ‘app-based’ touch-screen handset. The handset features an integral blood glucose monitor, an activity monitor and a mobile (GSM) data connection to a comprehensive web-based clinical management system. Cellnovo patients will be able to track and manage their diabetes; securely sharing all clinical information through the web so that they, their doctors, nurses and family members can ensure sustained and effective diabetic control.

Principal Investigator of the Cellnovo usability trial, and world-leading authority on insulin pump therapy, Professor John Pickup of King’s College London School of Medicine, remarked, “This clinical trial is not just the world’s first with a mobile-connected insulin infusion system, it is also the first clinical trial in which the care team and patients can simultaneously observe and evaluate patient data in real-time, anywhere in the world.”

Co-trialist, Dr Mark Evans of Addenbrookes Hospital in Cambridge, commented,

“This technology represents a entirely new model for the management of diabetes and one that could be of direct and long-term financial benefit to the NHS. The effective management of diabetes requires masses of information. The more information we have, and the more rapidly we have it, the better job we can do of using our resources efficiently to prevent the devastating long-term complications of diabetes. The Cellnovo system is the world’s first both to automate and deliver instantly the information we need – a task achieved through the thoughtful and thorough integration of consumer technology, such as wireless and cellular, with medical sensor and precision pump technologies.”

Co-trialist, Professor Stephen Greene of the University of Dundee added,

“The Cellnovo system provides us immediate access to the clinical status of all our patients on a single screen. With accurate and current information we can identify and address problems immediately that, otherwise, might go unnoticed for months, contributing to excess cost and potentially tragic patient complications. In this clinical trial we will be the first to explore these new opportunities in diabetes patient management and hope to uncover new ways to improve and extend care, optimise workflow and drive cost efficiencies.”

William F. McKeon, Cellnovo Chief Executive Officer added,

“The launch of the Cellnovo system marks a new era in medicine where mobile connectivity is routinely embedded in medical devices. We draw upon the convenience of mobile technology in so many aspects of our lives: email, photos, social networking and banking. It is now time that our most precious asset, our health, benefits from the real-time information flow that is made possible with an in-built mobile connection. We are moving into an era where our doctors will routinely detect health issues over the web, before they worsen; and where patients and family members have the peace of mind that dangerous and costly emergencies can be avoided as early signs are immediately spotted.”

“The Cellnovo usability trial will be conducted in ten of the leading diabetes centers across the UK and will involve 100 patients, both adults and children. Such scale is unprecedented for a trial of insulin infusion technology and its usability.”

concluded Dr Reman McDonagh, Director of Clinical and Physician Relations for Cellnovo.

Type 1 diabetes is routinely managed with pump technology throughout much of Europe and North America where 20-25% of patients gain benefit from therapy that mimics the body’s normal production of insulin. Yet the UK lags behind, with 96% of patients having to rely on multiple daily injections. By introducing a unique system that uses cellular data and touch screen technology, Cellnovo aims to eliminate the barriers to adoption of insulin pump therapy; simplifying and reducing the workload for doctors and nurses, while also improving the quality of insight and diabetes management achieved by patients.

Type 1 diabetes, affects 250,000 UK patients for whom the prospect of poor diabetic control can lead to blindness, nerve damage and death. Caring for diabetes accounts for 10% of the NHS budget, a significant proportion of which is focused on type 1, a growing challenge that affects 4% more UK patients each year. Type 1 diabetes can only be managed by the daily or constant administration of insulin, replacing the role of the pancreas that for these patients has become incapable of producing insulin, which is vital for the metabolism of carbohydrates.


About Cellnovo
Cellnovo is a mobile medical device company based in London, UK. The company was built by a seasoned group of veterans from both the medical device and mobile communications industries. Together, they have developed a mobile health system designed to reduce burden and provide more insight to people with diabetes, their healthcare teams and families.

The number of people with diabetes is estimated to double in the next twenty years, placing a tremendous strain on all healthcare systems throughout the world. The Cellnovo mobile diabetes management system is transformational in that it provides real-time access to patient data and the opportunity to streamline and improve care while at the same time reduce costs.

For more information, please visit

Cellnovo receives 2011 Best MedTech Fundraiser Award

By Cellnovo, Press Release
Press Release.


LONDON, UK – October 18, 2011 – Cellnovo was named Best Medtech Fundraiser at the recent 2011 OBN Bioscience Awards, an honour that recognises Cellnovo’s success in raising £30m to advance mobile diabetes management.

“Cellnovo has developed a game changing diabetes management system, and was featured at OBN’s 2011 BioTrinity Conference,”

said Jon Rees, Chief Executive Officer of OBN.

“Cellnovo was an obvious choice to receive the Best MedTech Fundraiser Award and we wish them every success in the commercialization of their system around the world.”

“Cellnovo is very proud of this accomplishment because we added some of the premier investors in Europe to our syndicate, and they are equally passionate about Cellnovo,”

said William McKeon, Chief Executive Officer of Cellnovo.

“They recognised our vision and capability to move beyond convention as we deliver the world’s first mobile diabetes management platform.”

The OBN Annual Bioscience Awards seek to highlight the many great achievements of the bioscience sector in raising funds, making deals and supporting innovation. This year’s Awards placed particular emphasis on the achievements of nominees, like Cellnovo, succeeding despite the challenges of the current financial climate.

“The size of the round and calibre of investors speaks volumes about Cellnovo, the company’s leadership team and its unique offering,”

said Raphael Wisniewski, Partner at Edmond de Rothschild Investment Partners.

“We look for companies that have the potential to transform an industry,”

said Philippe Peltier,Partner at Auriga Partners.

“We feel that Cellnovo is set to bring enormous benefit to diabetics,clinicians, and to health systems worldwide.”

About OBN
OBN is a not-for-profit business network that provides comprehensive support for its member biotech and medtech companies in the Oxford and South-East England biocluster and the rest of the UK.

Through its delivery of Europe’s fastest growing biopartnering and investment conference, BioTrinity,OBN generates more R&D-company-to-investor interactions than anyone else in Europe.

About Cellnovo
Cellnovo, an innovative UK-based mobile health company, is committed to bringing greater freedom and ease-of-use to people living with diabetes. The company has developed the industry’s first mobile diabetes management system, which includes a patch pump, a mobile handset with a built-in blood glucose monitor, and an extendable applications set. For more information, please visit

Frost & Sullivan has announced Cellnovo the winner of its 2011 European Technology Innovation Award in Diabetes Care

By Cellnovo, Press Release
Press Release.


LONDON, UK – October 4, 2011 – Frost & Sullivan has announced Cellnovo
the winner of its 2011 European Technology Innovation Award in Diabetes Care. Cellnovo, a UK-based company, is pioneering the use of mobile technology for easier, more effective diabetes management.

The Cellnovo diabetes management system integrates an insulin patch pump with a mobile touch screen handset that monitors blood glucose and activity levels. This information is then wirelessly transmitted to a secure site that performs analysis for patients and caregivers to use.

“We are extremely proud to win this prestigious award,”

says William McKeon, Chief Executive Officer of Cellnovo.

“It not only acknowledges our visionary use of technology, but,more importantly, the value it delivers to people with diabetes, clinicians and payers.”

“The Cellnovo solution can help patients control their diabetes more effectively,”

says Frost & Sullivan Research Analyst Arjunvasan Ambigapathy.

“Physicians can access in-depth data on each patient, reviewing data trends for valuable insights on aberrant readings. Such tools offer the flexibility of managing increasing patient loads in a shorter time span and at lower costs.”

“The Frost & Sullivan award recognizes Cellnovo’s position as a leading medical technology innovator at the forefront of the convergence of medical devices, IT and mobile connectivity,”

says John E. Milad, Investment Manager at NBGI Ventures.

“The award reflects the exciting potential of the Cellnovo system to provide a paradigm shift in the management of diabetes,thereby empowering patients, their families and clinicians.”

Cellnovo has harnessed the power of technology to make insulin therapy more convenient and accurate than ever before. Continuous mobile connectivity provides as much or as little data as the physician or caregiver needs. For example, it is expected that parents of children with newly diagnosed diabetes will initially use the web and text-based system extensively as they learn to manage the disease. Once parents’ confidence and knowledge increases, they will most likely transition to more casual monitoring.

Unlike traditional devices, the Cellnovo system is future-proofed by the ability to install new apps and system updates through an SD card integrated with the handset. This approach means that patients with the Cellnovo system will have the ability to keep their system updated with the latest innovations.

About the Frost & Sullivan European Technology Innovation Award
The Frost & Sullivan European Technology Innovation Award is presented to the company that has excelled in the following criteria: uniqueness of technology, impact on new products/applications, impact on customer value, and relevance of innovation to industry.

About Cellnovo
Cellnovo, an innovative UK-based mobile health company, is committed to bringing greater freedom and ease-of-use to people living with diabetes. The company has developed the industry’s first mobile diabetes management system, which includes a patch pump, a mobile handset with a built-in blood glucose monitor, and an extendable applications set. For more
information, please visit

Cellnovo Receives CE Mark Approval for World’s First Mobile Diabetes Management System

By Cellnovo, Press Release
Press Release.


LONDON, UK – September 19, 2011 – Cellnovo today announced that it has received CE Mark approval for the world’s first mobile diabetes management system, a significant milestone for the company and for people living with diabetes.

“This is Cellnovo’s first step in a journey to bring this mobile diabetes management system to the world,”

says William McKeon, Chief Executive Officer of Cellnovo.

Cellnovo is a complete diabetes management system built around the principles of mobile, wireless technology. The system includes an insulin patch pump, a wireless, touch screen handset with a built-in blood glucose monitor, and an extendable applications set.

“Cellnovo has created the first insulin pump that brings innovation and combines form with function, essential qualities in a device that patients have to interact with 24/7,”

says Dr.Pratik Choudhary, Clinical Lecturer in Diabetes at King’s College London.

Cellnovo’s groundbreaking technology means that diabetes therapies can now be managed more easily, accurately and intuitively. The patch pump is the smallest and most precise everdeveloped, and the touch screen, wireless handset is instantly familiar to those who have used other mobile devices such as Apple’s iPhone.

“Cellnovo has combined advanced mobile and medical technology which may create a
paradigm shift in diabetes care,” says Irl B. Hirsch, Professor of Medicine, University of
Washington, Seattle, USA. “For the multitude of patients who could benefit from pump therapy, Cellnovo could be a game-changer.”

The most exciting feature of the Cellnovo handset is that it wirelessly receives and transmits real-time data to a portal for patients and caregivers to use. This means that patients nolonger have the burden of keeping meticulous journals, and that the data collected isincredibly accurate and consistent, ensuring optimal monitoring and treatment of the disease.

“The ability to see real-time data of patients who may be hundreds of miles away provides the opportunity to redefine our care model,”

says Dr. Mark Evans, Lecturer and Honorary Consultant at the Institute of Metabolic Science at the University of Cambridge.

About Cellnovo
Cellnovo, an innovative UK-based mobile health company, is committed to bringing greater freedom and ease-of-use to people living with diabetes. The company has developed the industry’s first mobile diabetes management system, which includes a patch pump, a mobile handset with a built-in blood glucose monitor, and an extendable applications set. For more information, please visit

Cellnovo forms worldwide technology alliance with LifeScan

By Cellnovo, Press Release
Press Release.


LONDON, UK – September 13, 2011 – Cellnovo, developer of the first mobile diabetes management system, today announced a technology alliance with LifeScan, Inc. that will bring new portability and control to diabetes patients worldwide.

Under the global agreement, Cellnovo will integrate LifeScan’s blood glucose monitoring technologies into the handset of its mobile diabetes management system. The Cellnovo system, the first of its kind, consists of an insulin patch pump and a touch screen handset that wirelessly transmits real-time data to a secure portal for patients and healthcare providers to use.

“We wanted superb blood glucose monitoring technology inside our mobile handset and LifeScan is a market leader,”

said William McKeon, Chief Executive Officer of Cellnovo.

“Through our partnership with LifeScan, our combined technologies will advance care through connectivity.”

With Cellnovo, diabetes therapies can now be managed with a system that is mobile,
compact, highly accurate and intuitive. In addition, a real-time data tracking and reporting feature means that patients no longer have the burden of keeping meticulous journals – the process is entirely automated for them.

“Cellnovo has the potential to break new ground in bringing the first mobile diabetes management system to market,”

said Dr. David Kerr, Consultant Physician and Diabetologist at the Bournemouth Diabetes and Endocrine Centre.

“It is clear that new technologies for diabetes care, such as Cellnovo’s mobile health solution, are going to forever change the way we practice medicine and more effectively manage diabetes long into the future.”


About Cellnovo
Cellnovo, an innovative UK-based mobile health company, is committed to bringing greater freedom and ease-of-use to people living with diabetes. The company has developed the industry’s first mobile diabetes management system, which includes a patch pump, a mobile handset with a built-in blood glucose monitor, and an extendable applications set.

Cellnovo secures £30 million in Series B financing to advance new mobile diabetes management system

By Cellnovo, Press Release
Press Release.


LONDON, UK – February 4, 2011 – Cellnovo, developer of the first mobile diabetes management system, announced today that it raised £30 million ($48.4 million) in a Series B financing round led by Edmond de Rothschild Investment Partners (EdRIP), with Forbion Capital Partners; Auriga Partners; NBGI Ventures and Credit Agricole Private Equity joining Series A investors Advent Venture Partners, HealthCare Ventures and NESTA in the round.

Based in London, Cellnovo will use the funds to commercialize its system and expand to markets around the world. The Cellnovo system, developed in-house, is unique in several ways including: the accuracy and size of the pump’s technology, as well as the touch-screen, mobile-connected device that provides healthcare professionals and families immediate access to a myriad of information.

“Cellnovo is revolutionizing the way diabetes patients manage their disease,”

said Edmond de Rothschild Investment Partners, Partner, Raphael Wisniewski.

“We look forward to working with this exceptional management team in this first investment of EdRIP in a UK company.”

“We thoroughly examined the diabetes field and believe that Cellnovo’s approach to disease management is disruptive and will enable the company to soon leverage their tremendous market opportunit”

said Bart Bergstein, Managing Partner, Forbion Capital Partners.

The Cellnovo system’s advanced micropump technology enables people with diabetes to more efficiently manage their life-saving therapies while benefiting from greater personalization and portability.  This mobile-connected, disease management approach to diabetes removes the burden of keeping journals and pushes information to healthcare professionals so they always have a real-time view of this information.

“We are honored that this extraordinary team of investors has demonstrated tremendous confidence in our system and our efforts,”

said Bill McKeon, Chief Executive Officer of Cellnovo. “This partnership will allow Cellnovo to advance diabetes management and improve the lives of diabetics around the world.”


Press enquires

Bill McKeon,
Chief Executive Officer,
Cellnovo Ltd.
Phone: +44(0) 203 058 1250

About Cellnovo
A UK-based medical device company, Cellnovo develops and manufactures an innovative mobile diabetes management system. Comprised of a mobile connected micropump, mobile touchscreen controller, blood glucose meter and applications, the Cellnovo system provides intuitive operation, wireless Internet connectivity and real-time activity tracking – all industry firsts. Cellnovo’s management team offers extensive experience gained at the world’s premier medical device and wireless companies, including Medtronic, DuPont, Novo Nordisk, Abbott, AT&T Lucent, and other industry leaders. For further information, please visit

About Edmond de Rothschild Investment Partners
Paris-based Edmond de Rothschild Investment Partners is dedicated to minority investments into privately-owned companies. It has currently €800 million under management which is being invested primarily as life sciences venture capital and growth capital. Its Life Sciences Team of six professionals brings together over 30 years of experience in the Life Science industry and more than 50 years of private equity and venture capital experience. The team has approximately €300 million under management after having recently raised € 150 million through BioDiscovery 3. Edmond de Rothschild Investment Partners is an independently managed affiliate of La Compagnie Financière Edmond de Rothschild Banque.

About Forbion Capital Partners
Forbion Capital Partners is a dedicated Life Sciences venture capital firm with offices in Naarden, The Netherlands, and Munich, Germany. Forbion invests in life sciences companies in drug discovery & development as well as medical device companies addressing substantial unmet medical needs. Forbion’s investment team of nine investment professionals has built an impressive performance track record since the late nineties with successful investments in Rhein Biotech, Crucell, Neutec, Glycart, Borean, Impella, Alantos, Acorda, Fovea, PanGenetics, Argenta and Biovex. Current assets under management exceed $500M, split between three active funds and comprising some 27 promising portfolio companies. Forbion Capital Partners Fund II is supported by the European Investment Fund through its ERP and LfA facilities and comanages BioGeneration Ventures, an early stage fund focused on (academic) spin-outs and seed investments in the Netherlands.

About Auriga Partners
Auriga Partners is an independent venture capital firm. Based in Paris, it invests in information technologies and life sciences, in innovative high potential ventures, in seed or early development stages, in Europe, North America and Israel. Auriga Partners manages three funds for a total of around Euros 300 millions. Along with investing the necessary capital, Auriga Partners brings also its savoir-faire in developing and solidifying executive teams, organizing companies, broadening their networks and forming strategic and corporate partnerships.

About NBGI Ventures

NBGI Ventures, established in 2001, is the only European venture capital fund investing exclusively in medical device companies. With over €100 million in total commitments under management, NBGI Ventures is based in London and considers investments across Europe and the U.S. Companies it has supported to date include Advanced Cardiac Therapeutics (USA), BoneSupport (Sweden), EOS imaging (France), Estech (USA), Forth Photonics (UK), Quanta Fluid Solutions (UK), Reverse Medical (USA), SuperSonic Imagine (France), Symetis (Switzerland), Technolas/2010 Perfect Vision (Germany) and Upfront Chromatography (Denmark). NBGI Ventures is a division of NBGI Private Equity Limited, which is authorized and regulated by the Financial Services Authority.

About Advent Venture Partners

Advent Venture Partners is one of Europe’s most established growth and venture capital firms, investing in technology and life sciences businesses run by great teams that want a pragmatic and well-connected partner by their side. The Advent life sciences team is a leader in European life sciences venture capital. Its investments include: PowderMed, a therapeutic DNA vaccine company sold to Pfizer; Thiakis, an obesity treatment company acquired by Wyeth Pharmaceuticals; Respivert, a drug discovery company focused on respiratory diseases that was acquired by Johnson & Johnson; Cellnovo, a biomedical device company developing a revolutionary mobile insulin pump system; EUSA Pharma, a rapidly growing transatlantic speciality pharmaceutical company focused on late-stage oncology, pain control and critical care products; and, Algeta (ALGETA.OL), an oncology company developing treatments for bone metastases and disseminated tumour types.

About HealthCare Ventures

HealthCare Ventures is a leading life science venture capital firm investing in preclinical or early clinical stage, focused companies with the potential to transform patient care. Since its founding in 1985, HealthCare Ventures has raised $1.6 billion across nine funds and has invested in 99 companies, 63 as startup ventures.

About Crédit Agricole Private Equity

Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specialising in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 100 professionals manages €3.3 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure. The 12-strong venture capital team manages €470 million through FCPIs invested in young companies with high growth potential in 2 sectors: information technology and life sciences. Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI).


NESTA is the UK’s foremost independent expert on how innovation can solve some of the country’s major economic and social challenges. NESTA is a world leader in its field and carries out its work through a blend of experimental programmes, analytical research and investment in early-stage companies. Its £50m evergreen venture fund invests in UK based technology businesses that have the potential to deliver high growth UK successes.

Cellnovo and Home Diagnostics, Inc. form Strategic Alliance

By Cellnovo, Press Release
Press Release.


Technology integration and expansion of distribution platform drive partnership

LONDON, UK AND FORT LAUDERDALE, FLORIDA, USA – Building on a shared vision to simplify diabetes management worldwide, Cellnovo, a London-based medical device company, and Home Diagnostics, Inc., a leader in diabetes products, today announced a strategic alliance that involves integrating technologies and developing distribution opportunities for Cellnovo’s insulin patch pumps.

The partnership allows both companies to accelerate their growth and has the potential to transform the pump industry.  The first phase of the agreement calls for the inclusion of Home Diagnostics TRUE™ blood glucose technology in the Cellnovo wireless mobile handset.  The companies will also begin exploring ways to leverage Home Diagnostics’ distribution network to expand Cellnovo’s presence in the United States and other countries.

“We are extremely excited about our partnership with Home Diagnostics,”

said Bill McKeon, Chief Executive Officer of Cellnovo.

“On a technical level, it will provide our customers with the most advanced blood glucose monitoring technology available today within our mobile handset.  From a business perspective, it provides an extensive distribution network that includes 45,000 points of distribution, leading insurance companies and major product order suppliers.”

The Home Diagnostics blood glucose unit will operate as a built-in meter within the Cellnovo handset, enabling patients to monitor their blood sugar using touchscreen controls and TRUEresult™ and TRUEtest™ Test Strips.  Like all information in the handset, the glucose readings will be automatically stored and sent wirelessly to physicians, clinicians and family members.

“Our agreement with Cellnovo allows us to leverage the emerging opportunities in the insulin pump market through the most innovative pump system in the industry,”

said Joseph H. Capper, Home Diagnostics’ President.

“We look forward to helping Cellnovo bring the convenience, ease-of-use and wireless capabilities of their visionary product to diabetes patients throughout the U.S. and beyond.”

The Cellnovo pump, which is available in three models, is the industry’s smallest patch pump and the first to offer wireless, touchscreen operation.  With the integration of the Home Diagnostics blood glucose meter, patients can monitor their glucose levels using the same handset that records their insulin use, daily meals and activity levels, making diabetes management easier and more accurate.

“The combination of Home Diagnostics’ leadership technology and its significant distribution channels positions us to not only drive new advancements in health care, but to also bring greater freedom and convenience to diabetes patients worldwide”,

said McKeon.

– Ends –

About Cellnovo
Cellnovo Limited is an innovative medical device company based in London, UK.  Cellnovo has developed and produced the world’s first wireless touchscreen insulin patch pump system for diabetes management.  With its novel technology platform, Cellnovo is committed to providing freedom and ease-of-use to people living with diabetes and to providing the healthcare professional a means to better manage a patient’s disease.  Cellnovo’s technology platform benefits all constituencies – the patient, the provider and the payer – by enabling efficient insulin delivery and management, while also providing industry first mobile-enabled connectivity and real-time event tracking. Cellnovo lead investors are Advent Venture Partners and Heathcare Ventures.

About Home Diagnostics
Based in Fort Lauderdale, Florida, Home Diagnostics, Inc. is a leading developer, manufacturer and marketer of diabetes management products.  Home Diagnostics offers a portfolio of high-quality blood glucose monitoring products and systems available throughout the world.  Home Diagnostics is the exclusive co-brand supplier of blood glucose monitoring systems for leading pharmacies including CVS, Rite Aid and Walgreens, as well as distributors such as AmerisourceBergen, Cardinal Health, McKesson, Invacare and Liberty Medical.  For more information, please visit