Healthcare Industry News: blood glucose monitoring
News Release - February 14, 2008
GlucoLight Corporation Raises Second Tranche of ''C'' Round FinancingBETHLEHEM, Pa.--(HSMN NewsFeed)--GlucoLight Corporation, a development-stage company focused on non-invasive, continuous blood glucose monitoring, today announced the closing of the second tranche of its “C” round financing. The amount of the second tranche was not disclosed. The Company had previously raised $2 million in the first tranche of the “C” round.
The financing was provided by Ben Franklin Technology Partners and individual investors, including both current and new investors.
The funding from the financing will be used for GlucoLight’s next series of clinical tests on its SENTRIS-100™, a continuous, non-invasive glucose monitor for the acute care environment. The financing also allows GlucoLight to begin the miniaturization and productization of the device for an eventual consumer monitor.
“This most recent influx of capital comes as we enter a pivotal time for GlucoLight and our SENTRIS-100 monitor,” said Ray Krauss, Chief Executive Officer of GlucoLight Corporation. “Our clinical tests through 2007 were successful in refining SENTRIS-100, as we made advances in accuracy, while also reducing the size of the sensor. Our upcoming clinical trials will provide additional data that will allow us to prepare SENTRIS-100 for FDA trials. In addition, we’re excited about the potential for a consumer version of SENTRIS-100 as we begin the process of engineering and miniaturizing our technology to make it suitable for everyday use.”
Mr. Krauss continued, “The non-invasive, continuous measure of blood glucose levels has been a dream for both healthcare professionals and for patients living with diabetes everyday. We’re confident that SENTRIS-100 and its core technology will make this dream a reality.”
The GlucoLight SENTRIS-100 monitor requires regulatory clearance and is not yet commercially available.
About GlucoLight Corporation
Formed in 2003, GlucoLight is a development-stage company focused on continuous, non-invasive blood glucose monitoring in the acute care environment, leading to a future product for consumer application.
Using Optical Coherence Tomography (OCT) based technology, GlucoLight has identified specific physiological targets within the dermis that closely correlate to changes in blood glucose levels. GlucoLight’s SENTRIS-100™ monitor samples these physiological targets every two minutes to track blood glucose levels to a high degree of accuracy.
Today, GlucoLight’s SENTRIS-100™ monitor is the only continuous, non-invasive blood glucose monitor for the acute care environment that is in clinical trials.
For more information, visit www.GlucoLight.com.
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