Sphere gets Europe-wide sales clearance for anaesthetic monitor
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.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published