GluSense Receives Investment from JDRF T1D Fund
Purpose Is to Accelerate the Development of a Miniature Injectable Glucose Monitor
REHOVOT, ISRAEL and BOSTON, MA – February 15, 2017 – GluSense Ltd., a medical device company developing a long lasting injectable glucose sensor for treatment of Type 1 Diabetes (T1D), today announced it has received an investment from the JDRF T1D Fund, a venture philanthropy fund exclusively devoted to finding and funding the best early-stage T1D commercial programs.
Founded in 2007 and based in Rehovot, Israel, GluSense is part of the Rainbow Medical innovation house, a unique private business that seeds and grows companies developing breakthrough medical devices. GluSense’s Glyde™ CGM is a miniature long term injectable glucose sensor. It is injected under the skin and is expected to last for one year, providing continuous, accurate glucose measurements wirelessly to a convenient wearable device such as a watch. The injection of the device is minimally invasive and can be performed in a clinic using only local anesthesia. The T1D Fund’s investment will be used to bring the Glyde CGM closer to the first in-human clinical trial, a key step in the commercialization process.
“Today, diabetic patients need to endure frequent finger pricks daily in order to manage their glucose level, and even with modern CGMs, frequent calibrations, measurement verifications and replacements are still a hassle and limit efficient treatment” said GluSense CEO Dr. Boaz Brill. “In contrast, our Glyde continuous glucose monitor (CGM) will provide accurate glucose measurement for a full year with significantly fewer blood glucose calibrations. This groundbreaking technology will simplify and improve the life of people living with T1D and insulin dependent T2D worldwide.”
“This collaboration is a significant recognition of the GluSense product and technology. It will speed up our development process and ensure the technology meets the needs of patients and caregivers” said Efi Cohen-Arazi, Chairman of GluSense and CEO of Rainbow Medical.
“The GluSense Glyde CGM is a highly innovative and promising technology” said Jonathan Behr, Managing Director of the T1D Fund. “When paired with future advanced artificial pancreas systems or insulin injections, it will reduce the burden of T1D and help those living with the disease maintain blood glucose levels in a safe range”
GluSense’s technology uses a proprietary fluorescent glucose-sensitive biosensor that ensures accurate glucose measurement across the full physiological range, with enhanced accuracy at the medically-important hypo glucose range. Another GluSense breakthrough ensures that the biosensor level in the implant is maintained stable over the long term using engineered live cells that constantly replenish the biosensor in the implant. The stable biosensor level enables calibration frequency to be significantly reduced, freeing users from the daily hassle of multiple calibration finger pricks.