TEL AVIV, Israel--(BUSINESS WIRE)--HAGAR, the developer of GWave, a non-invasive continuous glucose monitoring technology that uses RF (radio frequency) waves to measure glucose levels in the blood, has announced it closed a Round C funding round of $5 million, bringing its total raised to date to $25 million. Additionally, Dr. Irl Hirsch presented HAGAR’s latest data from a proprietary study conducted at the Weizmann Institute of Science on the GWave device at the 83rd Scientific Sessions of the American Diabetes Association (ADA). He unveiled the data which included results in hypoglycemic levels demonstrating GWave’s unmatched accuracy and scalability of the product for the wellness and diabetic space.
Employing its novel RF wave technology, GWave non-invasively and accurately monitors blood glucose levels in real time. The device's seamless integration with Bluetooth and smartphone technology will allow users to effortlessly track their glucose readings on demand. An innovative feature of the GWave device is its automated alert system, designed to inform users of any significant glucose level fluctuations. The core of this groundbreaking device is that it monitors blood glucose in the blood itself, not in the interstitial fluid, resulting in great precision.
Professor Ami Navon of the Weizmann Institute of Science led the study of 75 diverse individuals in age, gender, and race: 34 with diabetes (82% Type I Diabetes), ten pregnant people with diabetes, and 31 without diabetes. Non-invasive monitoring was performed on the wrist, and comparators included BGM and two commercial CGMs. A noteworthy aspect of the study involved participants undergoing a glucose challenge, which showcased the accuracy and consistency of the GWave device in tracking fluctuating blood glucose trends. GWave performed with a mean MARD of 6.7%, with 97% of points falling in Zone A and 3% falling in Zone B of the Clarke Error Grid, with blood glucose levels.
In addition, HAGAR ran a hypoglycemic test with Dr. Irl Hirsch and his brother James Hirsch, a well-known former New York Times and Wall Street Journal reporter and best-selling author of Living with Diabetes, with Type I diabetes. In an impressive outcome, Dr. Hirsch lowered his glucose levels from 180 to 46 while GWave accurately monitored his blood glucose levels.
This clinical study and test results form part of HAGAR's ongoing pursuit to showcase its technology's increased accuracy and efficacy with the goal of bringing the device to market. In its final form, the GWave technology will be ready for integration into a smartwatch at a low-level cost, making it even more accessible and affordable for patients globally. The accuracy of such a device opens the door to those outside of the diabetes community through health optimization and the potential to prevent chronic illness.
These achievements follow the company’s pathway to market with its Breakthrough Device Designation granted by the US Food and Drug Administration (FDA) in 2021. Additional studies are planned for the latter half of 2023 centered on the full blood glucose range in the United States with Dr. Roy Beck, founder of the Jaeb Center for Health Research, and in Israel.
For more information, visit: https://www.hagartech.com/.