Date: May 07, 2014 Author: Mark Carter Source: Arkansas news (
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Fayetteville's SFC Fluidics on Wednesday announced that it had closed a $2 million, Series B investment round that will enable it to commercialize an innovative insulin patch pump and what it believes will be a groundbreaking suite of microfluidics devices.
The disposable pump is smaller than traditional pumps currently on the market with a footprint of less than two inches in diameter, according to CEO Anthony Cruz.
SFC initially will market its patch pump to insulin-dependent, type 2 diabetics. The battery-powered pump currently is in development with a strategic manufacturing partner that wishes to remain anonymous.
Cruz said the pump offers high precision, pain-free dosing over a wide range of delivery rates. Because the SFC pump will be marketed to type 2 diabetics who require less insulin, the resevoir in the patch pump is smaller than traditional pumps.
SFC is a portfolio company of VIC Technology Venture Development -- headquartered in Fayetteville with offices in suburban Boston and Annapolis, Maryland -- that develops microfluidics devices for the health-care industry.
Cruz said the SFC patch pump will be more affordable than traditional pumps and help transition diabetic patients away from manual injections of insulin. The pump will provide enough insulin for several days and then can be thrown away.
SFC will conduct trials involving up to 50 patients in early 2015. Cruz said the product should be market ready by 2016.
"Several of our medical devices will enter the market within the next three years," he said. "Having a partner who has manufactured devices in facilities compliant with the FDA and European regulatory agencies can only enahnce our success."
Diabetes affects roughly 26 million Americans, the vast majority of whom are type 2 and a large percentage of which ultimately will become insulin-dependent. Those suffering from type 2 diabetes produce their own insulin, but their bodies do not use it properly.
Those suffering from type 1 diabetes produce no insulin or very little insulin, the hormone that breaks down sugar in the blood.
SFC Fluidics is a client firm of Innovate Arkansas and the Arkansas Science & Technology Authority.
