RSP Systems Secures Series B Funding to Drive its Non-Invasive Glucose Monitor
RSP Systems A/S, the non-invasive diagnostics company, announces that it has completed the first closing of a Series B funding round amounting to €6.5 million. The round remains open for a second closing due to strong interest.
The proceeds of this round will be used to fund more extensive clinical trials, allowing RSP Systems to prepare for regulatory approval and market launch with a stand out product that will revolutionize the way diabetes is managed.
The Series B round included family offices and private investors, such as Jürgen Hambrecht, Chairman of the Board of BASF and Andreas Jenne, RSP Systems’ new CEO. All of RSP Systems’ present investors also participated in this round. To date, RSP Systems has raised a total of €19.5 million, including the Horizon 2020 grant awarded by the EU in 2016.
RSP Systems CEO, Andreas Jenne, commented: “The Series B financing round builds on an exceptional year for RSP Systems where the company has significantly advanced its technology platform, as featured in an article recently published in PLOS ONE.”
About RSP Systems A/S
RSP Systems, a Danish biotechnology company founded in 2006 as a spinout from Odense University, focuses on using Raman spectroscopy for non-invasive diagnostics. Raman is a well-understood and widely applied technology but using it for diagnostics has long eluded industry. RSP Systems has overcome these hurdles. Over the past six years, the company has aimed at glucose monitoring and has developed a prototype that shows target performance in clinical studies carried out in collaboration with the University of Odense. The company is now integrating its technology into a convenient consumer device as the first non-invasive glucose monitor of analytical quality for diabetic patients. Other applications will follow the market launch.
Anders Weber, CSO