Indigo announces successful Series A financing round
Ghent, Belgium: 19 December 2016 – Indigo Diabetes nv (Indigo), a spin-off from Ghent University (UGent) and imec, today announces the successful closure of a 7 million Euros series-A financing round. The funding is provided by an international investment syndicate led by Thuja Capital Healthcare Fund II (The Netherlands) and PMV (Belgium), and includes Sensinnovat, Parana Management Corp, Qbic Arkiv Fund, Fidimec, SOFI, Manuardeo and Capricorn ICT Arkiv as co-investors. This financing success will fuel the company’s development towards measuring and managing blood glucose levels without the need for finger pricks.
Today, diabetics must test their blood glucose levels by an uncomfortable process of pricking their finger to acquire a droplet of blood several times per day. Each droplet lands on a test strip that is then inserted into a digital reader to analyze blood glucose level. Monitoring and treatment schemes based around continuous glucose monitoring (CGM) systems have recently emerged. These CGMs rely upon a needle sensor that constantly protrudes the skin to measure the glucose level, and still require multiple finger-prick calibrations per day to maintain accuracy. Although the impact on patient health and healthcare cost of CGM systems is well accepted, the continuous need for frequent finger-pricks has hampered widespread adoption of CGMs.
More info on the press release.