Bigfoot Biomedical, developers of an artificial pancreas, raised $3.8 million in a debt funding round, according to an SEC filing.
The money comes from 3 unnamed investors and Bigfoot Biomedical has not disclosed what the funds will be used for.
The company is looking to raise $5 million for the round, still seeking an additional $1.2 million, according to the filing.
The now Milpitas, Calif.-based medical device company is making strides towards its goal of an artifical pancreas, after inking a deal last month with Dexcom Inc. (NSDQ:DXCM), maker of continuous glucose monitors, and acquiring the assets of shuttered insulin pump maker Asante. Bigfoot also said it relocated to Milpitas, Calif., where Asante was headquartered.
Last year, Bigfoot co-founder Bryan Mazlish made headlines by creating a closed-loop artificial pancreas for members of his family. The device operated on a Dexcom CGM, his wife, Dr. Sarah Kimball, said in an interview with Healthline.
In May, still stealthy Bigfoot Biomedical raised $3 million from 8 unnamed investors.
The post Bigfoot Biomedical raises $3.8m appeared first on MassDevice.
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