Intuity Medical secures financing for glucose monitoring system

Intuity Medical, Inc., the maker of POGO, a fully-integrated blood glucose monitoring system, secured a $20 million credit facility from Silicon Valley Bank and Oxford Finance Corporation.

"Our mission is focused on simplifying diabetes management for millions of people," said Emory Anderson, president and CEO of Intuity Medical, which is headquartered in Sunnyvale, Calif. "Thanks to partners like Silicon Valley Bank and Oxford Finance, who understand our business and support our vision, we are in a strong financial position to attain our corporate goals."

POGO combines traditional blood glucose testing supplies in one compact meter and multi-test cartridge system. Through its One-Step capability, the meter enables patients with diabetes to obtain automatic blood sampling and glucose analysis. POGO's self-contained cartridge eliminates the need for patients to carry, handle, or dispose of separate testing supplies and provides healthcare professionals an easy way to teach patients how to test their blood glucose and better manage their diabetes.

"Intuity Medical is entering a very exciting phase, seeking both FDA clearance and CE Marking to launch POGO commercially," said Rob Freelan of Silicon Valley Bank's Life Science Practice. "When available to consumers, POGO will give diabetes patients a way to manage their disease discreetly and without interruption to their daily lives."