Update (10/09/2018): RSP Systems has raised an additional €3.85M that raises the total amount of its Series B fundraising to €10.35M. The funds will be used to run clinical trials with the company’s device, which measures blood sugar without the need for finger-pricking.
Published on 11/06/2018
RSP Systems has raised €6.5M in the first closing of a Series B round to fund clinical trials for its needle-free blood sugar monitoring device for diabetes.
RSP Systems, a Danish non-invasive diagnostics company, has completed the first of two rounds of a Series B fundraising to bring its diagnostic device for diabetes closer to regulatory approval and a market launch. If successful, RSP’s device could provide a non-invasive, more pleasant alternative to blood testing for diabetes patients by using light to measure the concentration of sugar in the blood.
RSP’s technology uses a phenomenon called Raman scattering to measure blood sugar levels. Raman scattering occurs when light is shone on a molecule and scattered, changing the energy of the light. RSP uses Raman scattering to measure the concentration of a given molecule, in this case blood sugar, within cells and in fluid between tissues. The company recently published a study showing the accuracy of its technology was comparable to invasive blood sugar monitors, tested in 35 patients.
While the biotech is industry is full of other attempts to create non-invasive glucose monitoring devices for diabetics, early attempts were not always successful. In the early 2000s, Cygnus Incorporated’s GlucoWatch device caused painful skin rashes and had an impractical 3-hour warm-up time.
Current developments could bring better alternatives to the market. For example, French biotech Cellnovo is working on a wireless diabetes management system that monitors blood sugar levels and lets the patient control their insulin pump through a mobile touchscreen. London-based Glucosense has developed a needle-free device that can provide a blood sugar measurement in less than 30 seconds based on the fluorescence of ions in the device. Having a wealth of options can only benefit diabetic patients in the future.
Image by Raihana Asral /Shutterstock