SAN JOSE, Calif., June 11, 2012 /PRNewswire/ -- C8 MediSensors, Inc. (www.c8medisensors.com), the leading company developing noninvasive continuous glucose monitoring for people with diabetes, announced today that it has raised an incremental $19 million through the sale of Preferred C-1 stock.
This additional round of funding helps C8 MediSensors prepare for its upcoming product launch in Europe. C8 MediSensors' leading investors participated in this funding round.
Nearly 300 million people worldwide suffer from diabetes. C8 MediSensors has pioneered the use of light, specifically Raman spectroscopy, to measure glucose non-invasively with a continuous glucose monitor that is worn around the abdomen and sends readings to the user's smartphone.
C8 MediSensors' CEO, Paul Zygielbaum, himself a person with diabetes, commented: "Better diabetes management requires better glucose visibility to the patient. You can't control what you can't see. After years of research, development and clinical testing, we are thrilled to be on the verge of introducing our optical glucose monitor, which is designed to provide people like me with continuous visibility into their glucose levels throughout the day."
C8 MediSensors has filed for CE Mark approval and plans to introduce their optical continuous glucose monitor in Europe in 2H 2012, pending regulatory approval.
About C8 MediSensors
Headquartered in San Jose CA, C8 MediSensors' breakthrough patent-protected technology is being developed to give people with diabetes an adjunctive, continuous view of their glucose levels.
This document contains forward-looking statements. Any statements contained in this document that are not statements of historical fact may be deemed to be forward- looking statements, including, without limitation, statements relating to C8 MediSensors' anticipated product sales and financing needs. These forward-looking statements are based upon C8 MediSensors' current expectations. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks associated with market conditions, customer demand for the product, and risks and uncertainties associated with C8 MediSensors' business and finances in general. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. C8 MediSensors does not undertake any obligation to update any forward-looking statements as a result of new information, future events, changed assumptions or otherwise.
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