BETHLEHEM, Pa.--(BUSINESS WIRE)--GlucoLight Corporation, a development-stage company focused on non-invasive, continuous blood glucose monitoring, today announced the closing of the third tranche of its “C” round financing. The amount of the third tranche was not disclosed. In addition to the second tranche of financing announced in February, GlucoLight is nearing the close of its “C” round.
The financing was provided by Life Sciences Greenhouse of Central PA, Robin Hood Ventures and individual investors, including both current and new investors.
The funding from the financing will be used for GlucoLight’s next series of clinical studies with the SENTRIS-100™, a continuous, non-invasive glucose monitor with initial application in the acute care environment. The financing also allows GlucoLight to begin the miniaturization and productization of the device for an eventual consumer monitor.
“This third round of financing brings us closer to completing our Series C, and also provides valuable capital for our company,” said Ray Krauss, Chief Executive Officer of GlucoLight Corporation. “As was the case for the second tranche in February, these funds will help us complete our next round of clinical trials expected in May 2008, as we look to complete SENTRIS-100 for the hospital environment. It also assists us with the continued development of SENTRIS-100 for consumer and everyday use, efforts that began early this year.”
The GlucoLight SENTRIS-100 monitor requires regulatory clearance and is not yet commercially available.
About GlucoLight Corporation
Formed in 2003, GlucoLight is a development-stage company focused on continuous, non-invasive blood glucose monitoring in the acute care environment, leading to a future product for consumer application.
Using Optical Coherence Tomography (OCT) based technology, GlucoLight has identified specific physiological targets within the dermis that closely correlate to changes in blood glucose levels. GlucoLight’s SENTRIS-100 monitor samples these physiological targets every two minutes to track blood glucose levels to a high degree of accuracy.
Today, GlucoLight’s SENTRIS-100 monitor is the only continuous, non-invasive blood glucose monitor for the acute care environment that is in clinical trials.
For more information, visit www.GlucoLight.com.