GE Healthcare (NYSE: GE) invested an undisclosed amount into C8 Medisensors, a developer of non-invasive continuous glucose monitors for diabetic patients.
C8 aims to provide glucose monitoring that is "painless, accurate, continuous, noninvasive, and nonintrusive to your life," according to its website.
The San Jose, Calif.-based company’s glucose monitors use light spectroscopy to measure blood glucose levels without the need for frequent finger pricks.
"C8’s technology platform presents great promise for patients to avoid the discomfort of traditional invasive glucose monitoring," GE VP and chief technology officer Mike Harsh said in prepared remarks. "This investment aligns with our strategy to fund innovations focused on reducing cost, increasing patient access and improving quality in healthcare."
Diabetes will affect as many as 552 million people worldwide by 2030, or about 1 in 10 adults, according to GE.
Here’s a roundup of other dealflow and investment news:
MedLumics lands $4.7 million
MedLumics, a medical imaging diagnostics company specializing in advanced optical coherence tomography technology, closed a $4.7 million Series A financing round. Read more
Harbor MedTech wins $600,000 for wound healing
Harbor MedTech, a developer of wound healing technology, won $600,000 in a funding round from private investors to help the firm grow and further develop its products. Read more
Guided Therapeutics sells $1.7 million in stock
Guided Therapeutics Inc. (OTC:GTHP) completed a private sale to George Landegger and his affiliate, The Whittemore Collection Ltd., of 2,055,436 shares of the company’s common stock and warrants to purchase up to 285,186 shares for an aggregate price of about $1.73 million. Read more
Response Biomedical announces $8 million offering
Response Biomedical Corp. filed a $8 million offering to fund product development, market expansion, operating losses, capital improvements, working capital and other general purposes. Read more