Carlsbad, CA (PRWEB) August 16, 2016
Hunan China Sun Pharmaceutical Machinery entered into a strategic relationship with Glucovation, Inc in July 2015 and has now completed its equity investment to close the company’s Preferred Series “A” financing. The two companies have also agreed to create a Joint Venture in China’s Hunan Province for the development, manufacturing and distribution of Glucovation’s Continuous Glucose Monitoring System (CGM).
Glucovation’s technology is designed to address an ever-growing segment of Type I and Type II Diabetes in the Asian market. According to the International Diabetes Association, China has 114 million diabetics, which represents 11.6% of Chinese adults. The technology that is being developed by Glucovation has a cost structure that compliments the needs for penetrating the Chinese market as well as other more cost sensitive regions of the world.
The two companies have been working together for over a year and the relationship has proven very fruitful. Robert Boock, CEO of Glucovation said, “We look forward to extending our relationship with China Sun into a Joint Venture the second half of this year and together delivering a world class CGM Solution into the Chinese market”
Glucovation is a developer of novel Continuous Glucose Monitoring systems with an emphasis on metabolic sensor technologies that will be unmatched in the industry. Its proposed products present a game changing offering that will allow for broader access by an ever-growing need in the diabetes space. The company operates its headquarters in Carlsbad, CA. For more information, please visit us at http://www.glucovation.com.
Hunan China Sun Pharmaceutical Machinery Co., Ltd, located in Changsha National Economical and Technological Development Zone China, was established in October, 2002. The company is a National High-Tech Enterprise, with a National Technology Center, a Postdoctoral Research Workstation, and 1,500 patents. China Sun is mainly engaged in R&D, manufacturing, sales, import & export business of pharmaceutical machinery, medical devices, packaging materials & equipment. For more information, please visit http://www.chinasun.com.cn/en-us/.