Denmark's RSP Systems raised a Series A to ramp up the development of its noninvasive glucose monitor for diabetics, the company announced Friday.
Its GlucoBeam is based on RSP’s Critical Depth Raman Spectroscopy technology, which allows for the noninvasive measurement through the skin of the concentration of substances in the interstitial fluid. Specific molecules, such as glucose, affect laser light of a given wavelength in distinct ways. Raman spectroscopy is the analysis of scattered light from a sample and can quantify the molecules in the sample.
A noninvasive glucose monitor could lead to better patient compliance: a painless procedure could lead to higher frequency of testing and better glucose management.
The data from GlucoBeam will also be wirelessly integrated with a smartphone or tablet app for storage and analysis, according to the company. RSP also plans to integrate patient data with cloud-based patient monitoring services to loop physicians in and provide better care.
While RSP has demonstrated proof of concept in the measurement of blood glucose, the company expects that applying the technology to other areas could translate into the noninvasive diagnostics and body sensor arena.
Founded in 2006, RSP is a spinout of the Biophotonics Group at the University of Southern Denmark. It is headquartered in Odense and was initially funded by Danish venture capital funds Syddansk Kapital and Syddansk Teknologisk Innovation before being bought out in 2011 by private investors.
As for other noninvasive glucose monitoring devices, Abbott ($ABT) markets the FreeStyle Libre. The device is CE-marked for adults and children to monitor their glucose levels using a sensor worn on the back of the upper arm. The sensor can be worn for up to 14 days and has a filament that is inserted just under the skin for measurement. A hand-held reader is held over the sensor to get a glucose reading.
The Series A round was led by Dr. Roland Berger, who also joined the board of directors. All of RSP Systems’ existing investors participated in the round.
In addition to accelerating development, the funds will be used to prepare for commercialization of the device, GlucoBeam. This includes focusing on quality assurance, regulatory affairs, product development and business development, the company said in a statement. RSP already has a clinical outpatient study underway with Odense University Hospital in Denmark, which will continue until the end of the year. The company has plans to kick off an impatient study in Germany later this year.
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