Sphere Medical, the Cambridge-based medical devices manufacturer, rose sharply on Monday morning after revealing one of its monitoring products has been cleared for sale across Europe.
The company's Pelorus 1500 product measures the concentration of the intravenous anaesthetic "propofol" in blood samples. It has now received the CE marking which allows sales throughout the 30 nations which make up the European Economic Area.
Stuart Hendry, the Chief Executive of Sphere Medical said: "Obtaining the CE Mark for the Pelorus 1500 was a milestone we set down at the time of the IPO and we have achieved this on time and within budget.
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"We now intend to capitalise on the early interest being shown by a number of medical device companies and we are already working with a number of leading anaesthetists."
Sphere's shares had gained 5.5% by 8:47.
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