Cellnovo Limited (04349221): administration
- Status
- Administration ended
- Administration began
- 2019-03-26
- Administrators
- Nicholas John Edwards, Graham Paul Bushby
- Administrators' firm
- RSM
- Formerly
- Starbridge Systems Limited; Starbarge Limited
- Incorporated
- 2002-01-08
- Location
- Milton Keynes
- Industry
- 32500 Manufacture of medical and dental instruments and supplies
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 8 January 2002 and began trading in 2014, principally from premises in Bridgend in Wales. The Company was founded to create and develop a mobile system for managing type 1 diabetes. The apparatus includes a cordless micro-pump (a patch pump), an integrated monitoring device and a cellular handset with touch screen with an embedded blood glucose meter. This system enables diabetics to live a normal life whilst closely monitoring their glycaemia, their use of insulin, their activity and their food intake. The product in its current form was being used, immediately prior to our appointment by around 400 patients internationally.
In creating this device, the Company has generated a substantial amount of intellectual property including nine patents. The Company employed approximately 90 staff from its leasehold premises in Bridgend where research and development and some assembly work was carried out. The Company was also in the process of setting up production facilities in mainland Europe.
We understand that from inception some €130m has been invested in the product.
Administrators' statement of proposals (2019-06-03) · Companies House register