Senseonics develops an implantable continuous glucose monitoring system for people with diabetes. The Senseonics Continuous Glucose Monitoring System includes a miniaturized sensor, transmitter and a mobile medical application and is based on proprietary fluorescence sensing technology. The sensor is designed to be inserted into the subcutaneous space of the upper arm and to communicate with the transmitter to wirelessly transmit glucose levels to a smartphone. After insertion the sensor functions automatically and continuously. Led by CEO Tim Goodnow, the Germantown, MD-based company said proceeds from financing will be used to fund ongoing product development. The company recently completed both a $20M private equity financing and a $10M senior secured term loan. Senseonics is a Germantown, MD-based medical device company focused on developing and commercializing a fully implantable, long-term continuous glucose monitoring (CGM) system. Its CGM system comprises a miniaturized sensor, a transmitter and a mobile medical application and uses proprietary fluorescence sensing technology. The sensor is designed for subcutaneous insertion in the upper arm, communicates wirelessly with the transmitter and sends glucose levels to a smartphone, functioning automatically and continuously after insertion. The company raised an additional $20M in equity financing from investors including Anthem Capital, Delphi Ventures, Greenspring Associates, Healthcare Ventures and New Enterprise Associates. Senseonics intends to use the proceeds to complete pivotal trials in Europe, obtain CE mark and initiate IDE trials in the United States. Tim Goodnow is CEO and President, and the company appointed Mirasol Panlilio as vice president of global sales and marketing. Sensors for Medicine and Science develops a fully implantable, long-term continuous glucose monitoring system that includes a miniaturized sensor and reader. The sensor is inserted into the subcutaneous space and is inductively powered and remotely interrogated, requiring no battery and no wires connecting the sensor to an external display reader. After insertion, the sensor is designed to function noninvasively, automatically, and continuously. The company intends to use the Series D proceeds to fund the next product development phase and to advance worldwide clinical development programs and regulatory approvals. The company is led by President and CEO Tim Goodnow, PhD, and is based in Germantown, Maryland. Financially, the company completed a $54.1M Series D financing to support these efforts.

Total raised

$84M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Aug 2014