Implantable continuous glucose monitor developer GlySens raised $20 million in a new round of equity financing, according to an SEC filing posted today.
The company is developing an implantable sensor for monitoring glucose that needs calibration no more than 2 times a month, the San Diego-based company said.
The device wirelessly communicates with an external receiver which provides constant glucose monitoring.
The company looks to bring in another $1 million before the round closes, according to an SEC filing.
Funds from the round so far come from 19 different investors, with 1 labeled as a non-accredited investor, and the company has not yet stated how it intends to use the funds.
In August, the FDA approved an extension of the company’s clinical trial of its CGM device, upping its timeline from 6 months to 1 year.
The post GlySens raises $20m for implantable CGM appeared first on MassDevice.
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