Intuity Medical secures $64M Series D financing round

Intuity Medical, Inc., a privately-held company developing innovative technologies in diabetes management, today announced that it has secured a $64M Series D financing round. The funds were contributed by new investors Venrock and Emergent Medical Partners; and existing investors Investor Growth Capital, Thomas, McNerney and Partners, U.S. Venture Partners, and Versant Ventures.

Intuity will utilize the proceeds for the U.S. commercialization and distribution of its All-in-One System, following regulatory clearance. All-in-One is the world's first fully integrated blood glucose monitor, providing greater convenience, ease of use and discretion in glucose testing.

"Blood glucose monitoring is an essential component of diabetes management, and people with diabetes actively voice the need for a simpler method. Intuity's unique All-in-One technology, simplifies testing to just one, easy step," commented Emory V. Anderson, President and Chief Executive Officer, Intuity Medical. "With this recent funding, we have the ability to bring the All-in-One platform to market. This discreet and convenient system will make blood glucose monitoring much easier."

The All-in-One Blood Glucose Monitoring System combines all the traditional blood glucose testing components into one compact meter and multi-test cartridge system. All-in-One provides One-Step(TM) testing with automatic blood sample collection and glucose analysis.

Because of its unique self-contained cartridge, patients with diabetes will no longer need to carry or dispose of separate testing supplies. The product can also provide healthcare professionals with an easier way to teach patients how to test their blood glucose and ultimately, manage their diabetes.

Glucose Monitoring

The blood glucose self-monitoring market is estimated to be $8 billion worldwide. Clinical studies have proven that frequent glucose testing can reduce the risk of diabetes-related complications. The American Diabetes Association (ADA) recommends that people with diabetes using multiple daily insulin injections should test their blood glucose three times or more per day for optimal glycemic control.