Company: Sensors for Medicine and Science
Based: Germantown, MD
Amount: $54.1 million
Investors: Abingworth Management, Delphi Ventures, New Enterprise Associates, HealthCare Ventures, Anthem Capital, Rho Capital Partners and Greenspring Associates
Scoop: A Maryland-based company makes our list with $54.1 million in Series D equity financing. At the time of the financing, Sensors for Medicine and Science had just announced the results of a human pilot study of its continuous glucose monitoring system that demonstrated extremely accurate glucose measurement, the company said. As a result of the cash infusion, the company hopes to fund product development and seek regulatory approvals around the world. The company's CGM system includes a miniaturized sensor--implanted subcutaneously into the wrist--and a reader. After insertion, the sensor functions noninvasively, automatically and continuously. The sensor implant will communicate wirelessly with a small external reader, allowing the user to monitor glucose levels continuously or on demand. The company says the sensor implant life is roughly 6 to 12 months, after which it would be replaced. And the company has chosen a potentially very lucrative space, as diabetes affects roughly 26 million people in the U.S. and 350 million worldwide.