When will these people learn?

When will these people learn?

Always on the lookout for new companies with innovative technologies Diabetic Investor is consistently amazed at the lack of due diligence a company contacted by Diabetic Investor does when we ask for information. Although Diabetic Investor is not the Wall Street Journal, it is well known within the diabetes and investment community. One just might think that before a company speaks with us they would at minimum do a little due diligence and realize that we are not some neophyte who was born yesterday.

Frankly there is a reason Diabetic Investor writes so little on early stage development companies as more often than not they aren’t for real or their technology just doesn’t work. Since Diabetic Investor has developed somewhat of a following over the years and we are told that people, while they may not always like what we write, do take what we write seriously, therefore we believe we owe it our readers to fully investigate a company before we either endorse or pan what they are doing. It is a responsibility we take very seriously.

Recently we wrote about yet another company getting set to enter the continuous glucose monitoring market only this time the company was doing so with a twist, as they claimed to have a non-invasive continuous glucose monitoring system. The company we’re speaking of is C8 MediSensors.

As we noted when we originally wrote about the company we were skeptical that they actually had something but we also noted that the data would tell the real story. At the time the company had not published or made public any real data but they assured Diabetic Investor that this data would soon become public and it would blow us away.

Well the data is now public and yes it did blow us away but not because it was so good rather because it was complete horse manure. Since we’re not experts at CGM data, this way above our pay grade, Diabetic Investor reached out to several respected CGM experts, experts who have no financial interest or connection with the current crop of CGM companies. We shared with these experts the data C8 provided to Diabetic Investor and our originally skepticism was not just confirmed but reinforced. Simply put the data did not stand up to independent analysis.

While Diabetic Investor was not surprised by this, as we have learned to recognize b.s. when we see it, still other diabetes related publications and blogs have written about C8 without performing their due diligence which unfortunately gives the company an air of legitimacy, basically giving patients hope when there is none. Even worse the company itself can use this material in their efforts to bilk investors claiming that this coverage shows what they have is for real.

Yes it would great IF a company actually had a non-invasive continuous glucose monitoring system that actually worked and was commercially viable, this would be a major move forward in the CGM area and a major benefit to patients who would no longer be subjected to yet another invasion into their already over-invaded bodies. Although it’s not overly painful to use the current legitimate CGM systems available, but any patient who has used these legitimate systems if given the option of a non-invasive would likely chose this option. However given the option of using a system that actually works and delivers reliable data and one that is nothing more than smoke and mirrors, the choice is obvious.

The truly sad part here is that companies like C8 will only make it more difficult for legitimate CGM companies or other early stage CGM companies who actually have something. They will do for CGM what the charlatans who push the previous Holy Grail, a non-invasive conventional glucose monitor, have done to that category.  They will bilk their investors out of their money and offer hope to millions of patients, when in reality they are nothing more than modern day snake oil salesmen.

While we hope that C8 would be valuable lesson not just to other diabetes related publications or blogs but to the investors who are consistently duped into investing in these scams. That everyone would take a step back, perform some due diligence and realize that when something sounds too good to be true, it usually is too good to be true.

When will these people learn?