VeraLight's Perfect Storm in Diabetes Screening
Executive Summary
In January 2005, the CMS added diabetes screening to its select handful of reimbursed screening tests, paving the way for VeraLight Inc., a new company developing a non-invasive alternative to the current standard diabetes screening test, fasting blood glucose.
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Freedom Meditech Inc.
In the past, it has been challenging for developers of non-invasive glucose monitoring systems based on optical platforms to separate out the signal generated by glucose from a high level of background "noise." Freedom Meditech, which uses a beam of red light to detect the concentration of glucose in the eye, believes it overcomes this problem and expects to sell its devices directly to consumers and through traditional diabetes product distribution channels. The company is also in the final stages of development with an in-office diabetes screening system that employs similar technology to identify individuals who may have undiagnosed diabetes or pre-diabetes.
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A brief summary of recent clinical developments impacting the medical device industry, including limb regeneration, NIH's research plan for Type I diabetes, heart failure and statins; and new glaucoma research.
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If the FDA's decision in September 2005 to ask for additional safety data on the dual PPAR agonist muraglitazar (Pargluva, from Bristol-Myers Squibb and Merck) virtually killed development of all such compounds, the data presented less than a year later at the American Diabetes Association annual meeting has Big Pharma excited again about the potential for new classes of diabetes drugs.