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Venture firms back blood monitoring company Glysure to tune of $13.6m

28 Nov 2012

Amadeus Capital Partners and Delta Partners were among a group of venture firms which helped blood glucose monitoring company Glysure complete a $13.6m financing round.

Chester Investment, Morningside Ventures and Frank Bonsal Jr also took part in the Series C round, which brings the company’s total financing to $22.4m.

Glysure said it would use the cash to complete clinical trials to support its US and European regulatory clearance.

Company CEO Chris Jones said, “This has been an exciting and productive year as we’ve seen positive results from our human use trials, significantly strengthened our intellectual property portfolio, expanded our management team and positioned the company for commercialization.

“We look forward to providing clinicians with an effective tool to help them realize the benefits of Tight Glycemic Control.”

Earlier this month European tech investors Amadeus joined Archimedia Investments in investing £1.6m of early stage capital in web-based medical practice management business Qinec.

Qinec was recently selected as the cloud platform for the UK outpatient network of a blue-chip international insurer and healthcare provider, and is also in the process of signing up several other major private health insurers and healthcare providers.

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