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BioControl

This article was originally published in The Gray Sheet

Executive Summary

Raises $12 mil. in capital from offshore investors. The funds will be used for manufacturing operations for the Diasensor 1000 non-invasive glucose monitor sensor and for "other projects." BTI will manufacture the glucose monitor sensors under an agreement with Diasense, which will market the sensors worldwide ("The Gray Sheet" Jan. 10, In Brief). Production, slated for late spring, will begin at a rate of 1,000 to 2,000 per month as the firm gears up capacity. Biocontrol CEO Fred Cooper noted that "there has been some concern as to the company's financial condition over the years," but the exec asserted that Biocontrol "is in the strongest cash position in its history, and we can now complete many of the objectives that we have so vigorously worked to accomplish"
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