Sunnyvale, Calif.-based Intuity Medical is looking to raise more than $37 million in a funding round launched this month.
The diabetes management devices maker is $12 million dollars in, having raised funds through sales of equity, options and other rights among 17 unnamed investors.
Intuity Medical has been working on an all-in-1 blood glucose testing system, called Pogo, that would eliminate the need for patients to purchase separate testing supplies.
The company’s aim is to make testing simpler and easier, thereby improving patient compliance and improving health.
The Pogo device automatically lances the finger, collects blood samples and provides test results in a single step, the company says.
"Pogo is designed to integrate your test strips, lancets and lancing device into one compact meter and cartridge system to make testing easy, convenient and discreet," according to the company’s website. "Tight glucose control can reduce the risk of diabetes-related complications such as blindness, kidney and nerve damage by up to 76%."
Intuity’s past investors include Emergent Medical Partners, Investor Growth Capital, Thomas, McNerney & Partners, U.S. Venture Partners, Venrock and Versant Ventures.
The diabetes devices maker closed a $76 million Series D funding round last last year, planning to use the funds to obtain FDA clearance for its glucose monitoring and diabetes management devices and prepare for U.S. commercialization.
