Tandem Diabetes Care Inc. raised $12 million of a $13.7 million funding round spread across eight investors.
Meanwhile, its flagship t:slim insulin pump is under 510(k) review with the FDA as an option for people with Type I diabetes, according to VentureWire.
The current offering, which opened last week, is a mixture of debt and options, according to regulatory filings. The investors were not named.
The t:slim device, which boasts a credit-card sized profile, was designed with patient input "during thousands of hours of interviews, focus groups, and usability studies," according to the company’s website.
Based on patient feedback, San Diego, Calif.-based Tandem focused on making an insulin pump that’s stylish, discreet and easy to use. The t:slim pump is the first of its kind with a color touch screen and it’s "slim as a smartphone" so it can be "worn comfortably on or under clothing, without bumps or bulges."
Here’s a roundup of other dealflow and investment news:
- Covidien leads Entellus Medical’s $35 million round
Maple Grove, Minn.-based sinusitis treatment device maker Entellus Medical Inc.
closed a $35 million series E funding round led by Covidien Ventures. Financing was joined by existing investors SV Life Sciences, Essex Woodlands, Split Rock Partners, and Greenspring Associates. The funds will go toward ongoing operations and commercialization of Entellus’ various product lines.
- Microsulis seeks $15 million for microwave ablation
Denmead, England-based Microsulis Medical Ltd. opened a $15 million funding round to support global commercialization of its Accu2i pMTA percutaneous microwave ablation device. It has already raised $6 million from existing shareholder RMC Capital.
- Drchrono lands $650,000 in seed funding
Mountain View, Calif.-based medical record app maker Drchrono raised $650,000 in seed funding on top of $675,000 raised in July. The company’s OnPatient app allows an iPad to to serve as a patient check-in station and can be downloaded for free.
- Nyx closes a $500,000 round for sleep apnea monitoring shirt
NYX Medical Devices Inc., a startup founded by three recent graduates of the Massachusetts Institute of Technology, closed a $500,000 funding round collected from seven unnamed investors in support of its flagship Somnus Sleep Shirt. The device measures vital signs using built into a shirt that a patient can wear comfortably while sleeping, and connects to a data recorder that allows the patient to access their own sleep health data and use online tools to monitor and track their sleeping habits.
- Microcatheter maker raises $3 million
Menlo Park, Calif.-based iScience Interventional Corp. closed a $3 million equity funding round from a single unnamed investor. The company develops microcatheter technologies to help reduce intraocular pressure during glaucoma surgery.
- TheraSolve closes first financing round
Belgian treatment adherence device maker TheraSolve NV closed it’s first financing round led by Thuja Capital and LRM. The company plans to commercialize its flagship MemoPatch device, a disposal digital touch pad technology that reminds patients to take their medicine.
- Invacare expands share repurchase program
Elyria, Ohio-based medical device giant Invacare Corp.’s (NYSE:IVC) board of directors authorized an expansion of the company’s share repurchase program up to 2.5 million common shares. There is no expiration date on the authorization.
- Henry Schein ups stock repurchase by $200 million
Melville, N.Y.-based Henry Schein Inc. (NSDQ:HSIC) is cleared to repurchase up to $200 million more in common stock in addition to the $100 million announced in November, which has been fully executed.
- Apogee raises $90,500 through promissory notes
Norwood, Mass.-based drug delivery system maker Apogee Technology Inc. (OCT:ATCS) raised $90,500 through two promissory notes, each at a strike price of 75 cents for three-year warrants.