OptiScan Biomedical said today that it closed a $20 million Series E round to support the commercialization of its continuous monitoring system, the OptiScanner 5000, in the U.S.
The company’s device is an automated bedside blood glucose monitor designed for use in the intensive care unit. The system can measure glucose values from a micro-sample of blood without the need for calibration, according to OptiScan.
The company has kicked off multiple post-market studies of its OptiScanner 5000 to support its U.S. commercialization efforts, the OptiScan reported.
“This funding will allow OptiScan to strategically launch the OptiScanner 5000 in the United States. In doing so, we will be able to provide both patients and healthcare providers in intensive care units across the country with the proven benefits of our plasma-based, continuous glucose monitoring technology,” CEO Cary Vance said in prepared remarks.
The company is also planning to use a portion of its newly-acquired funding to support expansion of the OptiScanner platform to monitor additional analytes, such as lactate.