GlySens Incorporated Announce Close of Series E Financing
Funds Will Fuel Next Generation Technology Development and Clinical Trials of Long-Term, Implantable Glucose Sensor for People with Diabetes.
SAN DIEGO, CA. November 13, 2018 – GlySens® Incorporated today announced that the company has completed a Series E equity financing led by existing investors, bringing the total amount of equity raised by the company to over $50 million. The series E round gives GlySens the financial assets to execute multiple human clinical trials with its Eclipse® ICGM® System and complete development of its Gen 3 next-generation system, intended to extend the in-vivo sensor lifetime to 2-years.
“With this round and existing investments, we have the capital and resources to execute our strategic roadmap and deploy multiple iterations of the technology, demonstrating continuous improvements in performance while simultaneously advancing the next generation Gen 3 platform” said Bill Markle, President & CEO.
Earlier in 2018, GlySens closed out clinical trials at two different sites, with US and OUS partners. These trials added to a robust device safety profile and confirmed feasibility of the long-term implantable glucose sensor for extended human use. On the near-term horizon is the next generation Eclipse 3 ICGM System, which is 40% smaller, designed for a 2-year life and communicates with Bluetooth Low Energy, direct to a smart phone (iOS) or compatible diabetes device(s). This system has the potential to significantly reduce the burden of glucose management and enable an interoperable future of diabetes care; providing high quality and long-term glucose data for integration with multiple devices that improve an individual’s health.
About GlySens Incorporated
GlySens Incorporated is a privately held corporation headquartered in San Diego, CA., devoted to developing the world’s first long-term, truly unobtrusive continuous glucose monitoring system intended to dramatically improve and simplify the lives of people with diabetes. The fully implanted ICGM Sensor generates glucose dependent signals in real-time and provides at-a-glance glucose reporting and alerts regarding hypo- and hyperglycemic excursions. While other CGM approaches may require calibration multiple-times-per-day the GlySens' sensor recalibration requirements are intended only infrequently (1x or 2x per month). The innovative long-term sensor does not require wearing through-the-skin or skin-attached components thus freeing users from burdensome care and daily maintenance requirements. For people living with diabetes, the Eclipse ICGM System is designed to provide a means for easy, unobtrusive, worry-free glucose monitoring and empower users by providing the information they need, while freeing them to live life on their own terms. “Live more, worry less.”
Eclipse, ICGM and GlySens are trademarks of GlySens Incorporated registered in the U.S. Patent and Trademark Office.
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