14/September/11

NI Minister visits Intelesens

Arlene Foster, the NI Minister of Enterprise Trade and Investment visited the company today to celebrate its recent success in achieving FDA regulatory approval and in winning the prestigious ITLG Silicon Valley award in April.

Intelesens, the Belfast-based healthcare technology spinout company from the University of Ulster, has achieved a unique position at the forefront of Connected Health technology.

FDA clearance opens the door to the massive USA market where the benefits of wearable wireless health monitoring are just beginning to be realised in both hospital and homecare scenarios.

Intelesens CEO Michael Caulfield commented - 'We have always aspired to take our unique monitoring technology to the global healthcare market and this formal validation by the US FDA regulatory authorities means that we can now move forward rapidly with the launch of our Aingeal product into the US Hospital sector, likely to begin in early 2012." The company already has a strong foothold in the home monitoring market with its V-Patch product which obtained European CE approval in 2009.

Intelesens was founded by three biomedical Professors from Northern Ireland's University of Ulster - the University retains a significant shareholding in the company. John Anderson, Jim McLaughlin and Eric McAdams spun out some key technologies from the University, which now comprise the solid, science-based foundation for the company's industry - leading products. The company continues to work closely with the Nanotechnology and Integrated BioEngineering Centre, NIBEC, based at the University's Jordanstown Campus.

To date, the company has been funded from local sources, including leading local VC, Enterprise Equity. Invest Northern Ireland is also a shareholder in the company and has provided R&D grant support. The Wellcome Trust and Intertrade Ireland have provided further financial support for ongoing R&D and the Trust remains a shareholder in the company.

Michael Caulfield commented - 'In April this year we showcased our technology in America's Silicon Valley and won the 2011 Most Promising Technology Award. We feel now that we are ready to take the first major commercial step in delivering on that promise.'

Intelesens contact: Michael Caulfield +4484 5838 6239 michael.caulfield@intelesens.com

Enterprise Equity contact: Aidan Langan +4428 9024 2500 aidan@eeni.com

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