U.K.-based GlySure, which develops in-hospital continuous blood glucose monitoring systems, has closed its $10.9 million Series C financing round. The company plans to use the funding to complete clinical trials in support of regulatory approvals in the U.S. and Europe. Morningside Venture, Amadeus Capital Partners, Chester Investments and Delta Partners all participated in the round.
GlySure recently completed initial human use trials that showed its system can accurately measure blood glucose levels for the duration of a patient's stay in the intensive care unit. Dr. Joey Mason, partner at Delta Partners and a director of GlySure, said the latest round of financing reflects the positive trial results.
"There have been over 100 publications demonstrating the ability of Tight Glycemic Control to improve outcomes and reduce cost in the ICU," said GlySure CEO Chris Jones. "We are grateful for the support of our existing and new investors and look forward to completing our regulatory trials so that we can bring intensive care units a system that will allow them to deliver on the decade-long promise of Tight Glycemic Control."
To date, GlySure has secured $19.5 million in venture capital funding.
- see the GlySure release