SmartZyme BioPharma, a Jersey City, NJ-based medical technology company, raised the first tranche of its Series B-1 funding round.
The amount of the deal was not disclosed. WallachBeth Capital, a provider of institutional execution services, acted as the sole placement agent.
The round was led by OrbiMed Advisors and Virtus Inspire Ventures.
SmartZyme is a medical technology company which aims to enable a seamless leap to better performing glucose monitoring for people with diabetes. The company is accelerating the integration of SmartZyme’s next-generation glucose-sensing enzyme into continuous glucose monitoring devices.