Senseonics raises $10M for its implanted CGM sensor

Senseonics CGM

Continuous glucose monitor (CGM) device maker Senseonics has raised $10 million, according to an SEC filing, bringing its total funding to date to $94 million.

The company’s existing investors include Anthem Capital, Delphi Ventures, Greenspring Associates, Healthcare Ventures, and New Enterprise Associates.

Senseonics makes a pill-like sensor that is entirely implanted in the user’s upper arm from where it can continuously monitor glucose levels and send the data collected to the connected smartphone; ot it can be connected to the computer via USB. Once implanted, the sensor can last at least 90 days before it needs to be replaced.

In May, Senseonics partnered with Sweden-based insulin pump distributor Rubin Medical to commercialize its CGM solution in Scandinavia. At the time of the announcement, the Germantown, Maryland-based company said they expect to have a CE mark for the product before the end of this year.

A month after that, Senseonics secured $20 million to complete pivotal trials in Europe, obtaining CE mark, and initiate IDE trials in the United States.

[Via: mobihealthnews]