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.

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

Get 6 issues free

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

Sign up

"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