Diabetes app co LabStyle Innovations begins trading on Wall Street

The company plans to launch its Dario device and iPhone app in Europe later this year.

Diabetes app developer LabStyle Innovations Corporation has begun trading on Wall Street's Bulletin Board under the ticker "DRIO". The company developed the Dario self-monitoring of blood glucose app for diabetics, which is scheduled for launch later this year.

LabStyle chairman and CEO Dr. Oren Fuerst founded the company in 2011. In a notice to shareholders, he says that the Dario is an all-in-one device the size of a pack of gum, which includes a jack for a smartphone. The device includes a lancet to obtain a blood sample, a cartridge to store proprietary disposable test strips, and a glucose reader adaptor to hold the strip and interface with a smartphone, coupled with a smartphone app and internet-based (cloud) data services.

LabStyle applied for EU CE Mark certification for the Dario in late 2012, and expects approval later this year. The company will then launch the device in Germany and the UK via distributors, followed by launches in Belgium and Scandinavia. Later, pending regulatory approval, the company plans sales in the US India, Brazil, and Japan.

The Dario iPhone app has been approved by Apple Inc. (Nasdaq: AAPL) and will be available for download from the European app store as soon as the CE Mark is obtained. An Android app is planned for later in 2013.

Published by Globes [online], Israel business news - www.globes-online.com - on April 9, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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