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FINANCIAL NEWS
Abu Dhabi’s Proteus profit up to USD172m
01 Aug 2014
(MENAFN) A US biotech company pioneering tablets containing embedded microchips that can tell if patients have taken their medication said it has raised a further USD172 million, including funds from a firm part-owned by Abu Dhabi”s Mubadala Development Company, according to Arabian Business.
Privately held Proteus Digital Health, which is working with drugmakers including Novartis and Otsuka, said this week the funding was one of the biggest US private financings this year and the largest in the digital health sector and shows investor interest in its ingestible and wearable technology.
Proteus already has European and US approval for its “smart pill” technology system, in which a tiny sensor is embedded in a tablet and linked to a patch worn on the patient’s abdomen.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
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