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Germany's DiaMonTech Plans IPO In 3 Months To Fund D-Pocket Market Launch

DiaMonTech GmbH, a German medical technology company, Monday announced that it intends to go public on the Frankfurt Stock Exchange within the next three months, subject to capital market conditions.

The company plans to use the IPO proceeds for the market launch of its new product 'D-Pocket' as early as 2020.

The planned offer shall consist of newly issued ordinary bearer shares with no-par value resulting from a capital increase against contribution in cash. The capital increase is expected to amount to around 50 million euros. In addition, it is planned to grant an over-allotment option of 15 percent, which is also expected to be carried out with new shares.

MainFirst Bank AG is acting as Sole Global Coordinator and Sole Bookrunner.

DiaMonTech said it has developed a laser-based diagnostic method that allows the precise measurement of blood glucose without finger pricking, blood or pain. With the innovative photothermal detection technology, it is possible to precisely determine the blood glucose level by just placing a finger on an optical interface for a few seconds. The non-invasive method yielded 99.1 percent precise measurement results in a recent study.

Thorsten Lubinski, CEO of DiaMonTech, said, "We are on the brink of making it possible for diabetics worldwide to measure their blood glucose level precisely and non-invasively for the first time ever. With our new product 'D-Pocket', daily pricking will not be necessary for them anymore."

DiaMonTech intends to distribute the device "D-Pocket" directly as well as via selected sales partners in Europe and indirectly via distributors in selected markets outside Europe.

The company said it has already signed letters of intent with potential distributors for the regions China and Asia-Pacific as well as Japan for the sale of 110,000 units per year.

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