GlySens has closed a $20 million Series D financing led by prior (unnamed) investors from its Series C round, in addition to significant participation from new investors.

The company has developed an Implantable Continuous Glucose Monitoring (ICGM) system with an intended one-year life, that wirelessly links to an external receiver to provide glucose measurement, recording and alerts. Compared to other CGM approaches that typically require calibration multiple-times-per-day, GlySens sensors need only infrequent calibrations, freeing users from burdensome care and maintenance requirements.

“The clinical performance of our fully implanted ICGM system, now with multiple patients approaching 12 months of in-vivo use, was instrumental in our ability to secure incremental funding on terms highly supportive of the Company’s long term vision and viability,” William Markle, President and CEO of GlySens, said in a statement. “Our current clinical trial being conducted in San Diego, under an FDA-approved IDE, is continuing to emphatically demonstrate the viability of the GlySens Eclipse ICGM system to continuously monitor interstitial glucose in subjects with diabetes for a minimum of 12 months, with essentially zero impact to body image, and with the intended requirement of finger stick calibration only once or twice per month.”

The proceeds from the Series D investment, in addition to the significant remaining balance from the prior Series C round, will be used for further expansion of GlySens’ clinical trials to support a CE-Marking application, hire additional staff, and complete the build-out of a new modern facility and optimized manufacturing plant.