Grenoble, France-based startup Diabeloop has secured €31m in a Series B funding round led by Cemag Invest, with ADAG, Odyssée Venture, previous backers Supernova Invest, Air Liquide Venture Capital and others also participating.
WHAT THEY DO
Founded in 2015 out of a medical research project, the company’s primary product is what is referred to as a hybrid closed-loop system for management of Type 1 diabetes. Called DBLG1 (Diabeloop Generation 1), it connects a continuous glucose monitor, a patch insulin pump and a handset that hosts the company’s unique algorithm.
It works by transmitting a glucose measurement via Bluetooth to the handset every five minutes. Diabeloop’s algorithm analyses the data, along with other information about the patient, to determine the correct dose of insulin that needs to be administered. The result is a system that the company said “almost completely automates the treatment of Type 1 diabetes”.
“The Diabeloop-developed algorithm adapts to the physiology and lifestyle of each person, which means the glucose trend prediction and insulin delivery are customised,” said founder and co-chief executive Erik Huneker.
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