DreaMed Diabetes, a Petah Tikva, Israel-based developer of diabetes treatment and management solutions, raised $3.3m in funding.
Backers included Norma Investments Limited, representing businessman Roman Abramovich, and a strategic investor.
Founded in 2014 and led by Eran Atlas, CEO, and Steve Bubrick, Chief Commercial Officer, DreaMed Diabetes develops health solutions and decision support tools using algorithms for the optimization of intensive insulin therapy for the benefit of people with Type 1 and Type 2 diabetes. The company’s first product, GlucoSitter™, was developed for closed-loop insulin therapy and was licensed to Medtronic.
The company’s latest product, Advisor™, its decision support technology platform for determining the optimal patient-specific insulin treatment plans leading to balanced glucose levels in people with diabetes.
The system uses event-driven machine learning and logic technology in order to process multiple personalized parameters, such as insulin delivery data, glucose readings, meal data and more into an informed and optimized insulin dosing treatment plan.
The funds will be used for the further development of Advisor.