Intuity Medical, a developer of technologies in diabetes management, has secured a $20m credit facility from Silicon Valley Bank and Oxford Finance Corporation, to complete clinical trials and commercialize POGO, a fully-integrated blood glucose monitoring system.
Intuity Medical’s POGO combines traditional blood glucose testing supplies into one compact meter and multi-test cartridge system and provides One-Step testing with automatic blood sampling and glucose analysis.
POGO also provides healthcare professionals with an easier way to teach patients how to test their blood glucose and, manage their diabetes.
Silicon Valley Bank’s Life Science Practice Rob Freelen said Intuity Medical is entering a phase, seeking both FDA clearance and CE Marking to launch POGO commercially.
"When available to consumers, POGO will give diabetes patients a way to manage their disease discreetly and without interruption to their daily lives," Freelen said.
"We appreciate that our clients’ technologies advance standards of care for difficult diseases and are excited to partner with Intuity Medical in its mission to improve the treatment of diabetes."