Intuity Medical raises $40m for Pogo glucose meter

Intuity Medical said today that it raised $40 million in a Series C round for its Pogo 1-step blood glucose meter.

Sunnyvale, Calif.-based Intuity said the round was led by PTV Healthcare Capital and included affiliates of Luther King Capital Management, both new investors, and existing backers Accuitive Medical Ventures, Investor Growth Capital, U.S. Venture Partners, Venrock and Versant Ventures.

The Pogo device won 510(k) clearance from the FDA in April. It’s designed to combine the lancing, blood collection and analysis functions involved in measuring blood glucose into a single step.

“Blood glucose monitoring is an essential component of diabetes management, and people with diabetes continue to actively voice the need for a simpler method. Intuity’s unique technology with integrated lancing, simplifies testing to just 1 easy step,” president & CEO Emory Anderson said in prepared remarks. “With this recent funding, we have the ability to bring Pogo automatic to the U.S. market for patients who have been looking for a convenient way to test their glucose.”

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from MassDevice http://www.massdevice.com/intuity-medical-raises-40m-pogo-glucose-meter/