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California device company developing intravascular glucose monitor for ICU patients raises $3M

February 5, 2013 11:12 am by | 0 Comments

moneytree

California medical device firm GluMetrics, which has developed an intravascular continuous glucose monitor, has raised a little more than $3 million in its hunt for $6 million, according to a regulatory filing.

The company makes the GluCath, a single-use catheter and sensor system, where the sensor is placed in the peripheral vasculature using conventional IV therapy. The sensor is able to provide real-time monitoring of a patient’s glucose levels in the ICU. The notion is that patients in the ICU show positive clinical outcomes if their glucose levels are monitored and managed very closely.

Back in 2008, GluMetrics raised a $20 million series C round from investors like New Leaf Ventures Fund, Kaiser Permanente Ventures, Advanced Technology Ventures, Versant Ventures, according to Ventrewire.

The company is led by William Markle, who previously worked at two medical device startups: Tensys Medical and Massimo Corp.

 

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Arundhati Parmar

By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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