Cork, Ireland – July 28, 2010 – Radisens Diagnostics announced today an equity investment by Sophia Business Angels (SBA), part of the leading European business angel network. This investment will be used to fund Radisens’ route to market for its compact digital diagnostic analyser product line.

Facilitated by CorkBIC, via their Internationalisation Programme, Radisens was chosen from hundreds of European opportunities based on numerous stringent investment criteria. Recently named 2010 European Business Angel Network of the year by EBAN, SBA creates unique financial instruments to promote innovation and growth in high potential European startups, driven by French wealth tax law.

“Radisens’ experienced multi-disciplinary team, unique business model and high growth target market were significant attractions for us to invest” said Juliana Garaizar, SBA General Manager. “There’s no doubt that point-of-care is a huge growth area and Radisens’ disruptive technology gives it a significant edge”.

“This is a significant endorsement by Europe’s premier angel network,” said Jerry O’Brien, Radisens CEO. “SBA’s track record speaks for itself. We look forward to continue working with them to build Radisens into a world leading portable diagnostics company.”

About Radisens Diagnostics

Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About Sophia Business Angels Fund

Recently named European Business Angel Network of the year, Sophia Business Angels (SBA) is a select network of international serial entrepreneurs and senior managers based in the European high-tech capital of Sophia Antipolis, France. With members from 15 countries, SBA actively invests in early national, and international start-up projects which bring a significant return on investment. Given the group’s combined expertise in finance, ICT, Bio, and Energy, the SBA invests and mentor companies in ICT, CleanTech, MedTech/Health, and B2B. Over the last 6 years more than 50 SBA members have invested more than €20M of their own and managed money in more than 40 companies worldwide, with numerous successful exits.

About CorkBIC

CorkBIC is a leading interdisciplinary venture consultancy operating in the South & Mid-West of Ireland. The company has provided an integrated process for incubating and growing high potential technology companies over the last 21 years with an 85% success rate.  CorkBIC manages The Business Angel Partnership (BAP) in it’s region – a joint initiative between Enterprise Ireland, InterTrade Ireland and the Irish Business Innovation Centres (BICs). The BAP Operates on a regional basis, providing a matching service for private investors (Business Angels) and pre-screened investment opportunities in start-up, early stage and developing businesses. The BAP recently completed its 50th investment deal resulting in investments of €18million euro into a cross section of indigenous Irish companies.

Commercial Contact:
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909