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Sphere Medical
- BY: Andrew Hore |
- POSTED: 26/01/2015 |
Medical devices developer Sphere Medical had more cash than expected at the end of 2014 and there is already interest in its Proxima 3 blood analyser.
Last year’s revenues were modest but an intention to purchase a Proxima 3 has been received and ten other potential purchasers will be evaluating the equipment. This is on the back of the positive clinical results published last autumn. The European launch will happen in March.
The collaboration with Ortho Clinical Diagnostics is continuing and it lasts until the second half of 2015. OCD will then have to decide whether to commercialise the enhanced Proxima product being developed.
There was £3.7m in the bank at the end of 2014, down from £6.32m at the end of June 2014, compared with a forecast of £3.1m.
At 23p a share, Sphere is valued at £13.7m.
AIM Journal January 2015 available.
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