Sunnyvale, CA-based Intuity Medical has secured additional funding with the closing of a second tranche of its previously announced Series D preferred stock financing, increasing the total to $76 million. New investor Accuitive Medical Ventures joined Investor Growth Capital, Thomas McNerney and Partners, Venrock, Versant Ventures and U.S. Venture Partners in the close.
Intuity will use the funds to obtain FDA clearance and prepare for U.S. commercialization and distribution of the POGO all-in-one system. POGO integrates all the traditional blood glucose testing supplies into a self-contained system, providing greater ease of use and discretion for the millions of diabetes patients who test their glucose regularly.
"We have achieved a significant milestone with the completion of our 510(k) submission and are currently pending FDA clearance for the POGO System," said Intuity President and CEO Emory Anderson. "With the additional increase in funding, we will continue building the company infrastructure for POGO's U.S. market launch. Our goal is to make diabetes disease management less burdensome by providing a simple, One-Step solution to current blood glucose testing."
The company, formerly known as Rosedale Medical, was spun out of the Sarnoff Corporation.
- get the Intuity statement