Devices & Diagnostics, Startups

GlucoVista raises new funding for wearable device in race to develop noninvasive continuous glucose monitoring tech

It has raised $2.7 million from six investors, according to a Form D filing with the U.S. Securities and Exchange Commission.

GlucoVista, a medical device company with U.S. headquarters in Fairfield, New Jersey, has raised more than $2 million as it seeks to advance a noninvasive, continuous glucose monitoring tool for Type 1 and Type 2 diabetes patients. Its technology involves using a wearable and infrared light with a companion app.

A brief description of its technology on its website states:

The CGM-305 is a wearable, continuous non-invasive glucometer that reports the glucose level in the blood by capturing the natural thermal infra-red radiation emitted from the glucose in the blood of a human body in specific wave-lengths. This methodology of glucose monitoring is totally passive, thereby providing true non-invasive glucose testing.

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A Deep-dive Into Specialty Pharma

A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.

It has raised $2.7 million from six investors, according to a Form D filing with the U.S. Securities and Exchange Commission. The company is currently conducting clinical studies with hospitals in Israel. Although

Noninvasive glucose monitoring is one of the holy grails of med tech, particularly through spectroscopy. The idea is that if companies can develop a pain-free and continuous way to measure blood-glucose levels, it would make managing the condition easier because it would become more of a passive exercise.

The overarching goal is to offer a way to help patients better manage their condition to avoid complications, hospitalization and reduce healthcare costs.

Many companies have attempted it and are in various stages of pursuing it but not one of them has yet received 510(k) clearance from the U.S. Food and Drug Administration. Among the companies in pursuit of getting noninvasive approaches approved are Integrity Applications’ GlucoTrack andSocrates Health Solutions, which use ear clips as part of their blood glucose monitoring tools. Grove Instruments is another company that has been active in this area, although I could not find an up to date website for the business.

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