Proteus Biomedical Inc secures FDA clearance for Raisin Personal Monitor.

M2 EQUITYBITES-21 April 2010-Proteus Biomedical Inc secures FDA clearance for Raisin Personal Monitor(C)2010 M2 COMMUNICATIONS http://www.m2.com

Intelligent medicine company Proteus Biomedical Inc reported on Wednesday the receipt of 510(k) clearance from the US Food and Drug Administration to market its wireless personal health device, called the Raisin Personal Monitor.

This product is a small, wearable device for remote recording and analysis of heart rate, physical activity, body position and patient-logged events. The personalised physiologic information is then communicated via Bluetooth to any computerised device for emerging mHealth applications.

Proteus said that the product is being further developed as part of its integrated intelligent medicine system to link sensor-based formulations of pharmaceutical products to individualised physiologic response and outcomes-based treatment systems. Proteus and its partners are currently developing these integrated product systems in cardiovascular disease, psychiatric disorders, organ transplantation and infectious disease.

Additionally, Proteus announced on Wednesday the completion of its Series E financing in which USD25m was raised from existing investors including Medtronic (NYSE:MDT) and new investors Novartis (NYSE:NVS) and ON Semiconductor (Nasdaq:ONNN).

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