Intuity Medical raised another $15 million for development and commercialization of their blood glucose monitoring system
Intuity Medical, the maker of automatic blood glucose monitoring system called Pogo, has managed to raise another $15 million in Series C funding that was led by the PTV Healthcare Capital, new investors KCK Group, and affiliates of Luther King Capital Management. All of their previous investors such as Accuitive Medical Ventures, Investor Growth Capital, US Venture Partners, Venrock and Versant Ventures also contributed to this round with additional investments.
“The additional funding will help further our commercialization in bringing Pogo Automatic to the US market for patients who have been looking for a convenient way to test their glucose,” said Emory Anderson, Intuity Medical President and CEO.
Based in Sunnyvale, California, this company who is still best known for their all-in-one device that can test blood glucose levels with ease has managed to raise $40 million already. Their device Pogo which consists of test port, lancets and lancing device in one compact meter and cartridge system has received FDA clearance in April 2016. It is marketed as a very simple device that enables users to quickly perform a glucose test discreetly in public settings or when they are pressed for time. It does not require using of individual test strips or even separate lancing device. One of its greatest advantages is that enables users with diabetes to stop carrying with them a lot of supplies that are needed for the management of their health condition.
Intuity Medical has made their business model viable by focusing on enabling users with diabetes to more easily and discreetly manage their condition. Pogo promotes simplicity and privacy, and such approach can lead people to increase their testing schedules and much better manage their glucose levels. One of the most important advantages of Pogo is that it requires only small amount of blood (just 0.25 microliters) to analyze glucose value in the user. The process for taking the blood is very simple. The user presses the hand to the Pogo test port for just four seconds, and during that time automated lancing system takes the blood. The entire process is internal, making external test strips and lancets unnecessary. The Pogo can store 10 lancets inside their central cartridge, which can be removed and thrown away after 10 tests are completed.
After blood is taken, it is analyzed both on the local device and the much more powerful cloud-based platform “Patterns Diabetes Management System” platform that was developed internally by Intuity Medical. The result of the analysis enables sharing of data not only to end users but also to health care professionals. This approach can give users much better care, health condition diagnosis, and management of health treatments that can be devised by medical professionals who have access to data that was gathered by Pogo.
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