CONTINUOUS GLUCOSE MONITOR RECEIVES $20 MILLION

Senseonics Will Use New Investment to Fund US Trials

US based Senseonics has drummed up new investment from existing investments partners Anthem Capital, Greenspring Associates, Healthcare Ventures, Delphi Ventures and New Enterprise Associate. They raised $20 million which will be used to obtain a CE mark for its continuous glucose monitor, CGM, system, and also to fund the monitor’s upcoming investigational device exemption trials, IDE, in the US.

Senseonics’ glucose monitor is a long lasting implant that is embedded in the user’s upper arm where it can continuously monitor the user’s glucose levels. The device is destined to last up to six months before it has to be replaced. A transmitter will be fitted to the user’s upper arm, where it can read the information directly from the implanted glucometer. These readings can be sent from the transmitter to a companion smartphone app.