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AgaMatrix is a technology company that has successfully commercialized over 10 FDA-cleared medical diagnostics products in the glucose/ diabetes monitoring space. Founded in 2001 by scientists from MIT and Cambridge, AgaMatrix has grown to 130 employees worldwide, with offices in the US, UK, South Korea and China, and a stellar management team and investors that include founders/ executives from MediSense and Inverness Medical (two leaders in the Blood Glucose industry). Together with manufacturing partners in South Korea and newly acquired factories in China, there are more 500 people supporting the production of AgaMatrix products.
AgaMatrix develops and manufactures a line of diabetes products designed to improve the quality of diabetes care. The company’s products feature WaveSense, a new technology that personalizes each test to provide world class accuracy. WaveSense Dynamic Electrochemistry is a novel DSP-based (Digital Signal Processing) method of real-time feedback algorithms to control the accuracy of electrochemical sensors.
To date, AgaMatrix attracted many high-profile commercial partners. Sanofi-Aventis, one of the largest pharmaceutical companies in the world, and the largest manufacturer of insulin, has selected AgaMatrix as its Glucose Meter partner and is commercializing the world’s first glucose meter connected to the IPhone. In the US, AgaMatrix has partnered with the largest mail-order MediCare provider, Medco, to supply private-labeled glucose meters (under its ‘Liberty’ brand). Additionally, AgaMatrix has partnered with Perrigo, the US’s largest store-brand supplier/ manufacturer of over-the-counter medical products. AgaMatrix’s reputation for high quality and innovation has allowed it to grow into a multi-national company with top tier partners.
The current primary focus of commercialization of AgaMatrix is in blood glucose monitoring. AgaMatrix does have its own brand (called WaveSense); however, the majority of products are sold via private-label partnerships. The Blood Glucose Monitoring system include a meter, a vial of single-use test strips and a lancing device and lancets (for extracting blood). In addition, AgaMatrix also makes desktop-PC based software for connecting to and downloading meter readings (called Zero-Click). AgaMatrix’s WaveSense-branded glucose meter products include meters called KeyNote, Presto and Jazz. The ‘pro’ series are meters that include a mechanical test strip ejection system (KeyNote Pro, Presto Pro).
The most notable recent product innovation that AgaMatrix has developed is the world’s first iPhone-connected glucose meter, sold internationally by Sanofi-Aventis under the name iBGStar (www.ibgstar.com). In addition, Sanofi-Aventis is also distributing another AgaMatrix glucose meter system called the ‘BGStar’.
AgaMatrix was also the world’s first glucose meter company to develop an iPhone app for diabetics called the ‘WaveSense Diabetes Manager’. It was consistently been rated the best app of its kind in the iTunes store.
Through its relationship with Perrigo, AgaMatrix is distributing its glucose meter system to major US retailers like Target and Krogers. Through its international partners, AgaMatrix glucose monitoring systems are also being sold in Europe by MedTrust (under the name ‘Wellion Linus’) and in China by Grace Medical (under the name ‘Grace Pro’).