Release date: 2016-01-18
Senseonics, Maryland, has officially launched an IPO with a valuation of $51.75 million. The company produces mainly implantable continuous blood glucose monitoring equipment (CGM).
Senseonics' individual products are capsule-sized sensors that can be implanted into the user's upper arm to continuously monitor blood glucose levels. The equipment can be used for at least 90 days, and the current equipment can only be monitored for 5 to 7 days compared to a substantial increase.
Senseonics' Eversense sensor is not yet licensed by the FDA and CE, so the company has not yet made a profit and the product has not been placed on the market.
The sensor sends the data to the transmitter that is worn on the user's upper arm. When the transmitter is worn on the user's upper arm, it receives sensor data and transmits the data to a dedicated mobile phone app. The transmitter can also connect to the user's computer via USB to upload blood glucose history data.
The company has raised $94 million to date, including $10 million in August last year and $20 million in June 2014.
Senseonics was founded in 1996, but the development of CGM began in 2010. Last year, the company was acquired by ASN technology and sold other businesses, renamed Senseonics Holdings.
The company's equipment conducted a 90-day clinical trial of European patients. The test found that Eversense is more accurate than existing CGM equipment. The 39 patients who participated in the trial continued without errors for 90 days.
The company also said it will develop a new mobile platform to improve the existing CGM user experience.
Original link: http://mobihealthnews.com/content/pre-fda-smartphone-connected-implantable-cgm-company-senseonics-files-5175m-ipo
Source: Kexun Medical Network
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