GluSense, a Rehovot, Israel-based medical device company focused on treating diabetes, raised a new funding of undisclosed amount.
The backer was JDRF T1D Fund, a venture philanthropy fund exclusively focused on finding and funding early-stage T1D commercial programs.
The company intends to use the funds to bring the Glyde CGM closer to the first in-human clinical trial, a key step in the commercialization process.
Founded in 2007 and led by CEO Dr. Boaz Brill, GluSense develops a long lasting injectable glucose sensor for treatment of Type 1 Diabetes (T1D). Its GlydeTM CGM, a miniature long term injectable glucose sensor, is injected under the skin and is expected to last for one year, providing continuous glucose measurements wirelessly to a wearable device such as a watch. The injection of the device is minimally invasive and can be performed in a clinic using only local anesthesia.
The company is part of the Rainbow Medical innovation house, a private business that seeds and grows companies developing innovative medical devices.