New funds for novel glucose monitor by Indigo (Flanders)
Indigo Diabetes (Flanders) has raised EUR 38 million to develop a high-tech hypodermic sensor for people with diabetes. This pioneering Continuous Glucose Monitoring (CGM) system offers a pain-free alternative for monitoring blood glucose level.
Done with painful finger pricking
Indigo Diabetes, a spin-off of Flanders’ strategic research center for nano- and digital tech imec and Ghent University, is working on a high-tech sensor for people with diabetes. The sensor is inserted underneath the skin and connects to a small receiver that warns the patient when their sugar level is either too low or high. The receiver allows the patient to view trends and share data with others, like their GP.
“Patients with diabetes have to deal with the daily hassle of checking their sugar levels. Moreover, existing ways of monitoring glucose levels, like finger pricking and highly visible patches, are often both painful and stigmatizing. With our revolutionary CGM system, patients can have hassle-free and worry-free lives while resting assured that their glucose levels are actively and accurately monitored,” says Danaë Delbeke, founder of Indigo.
Local and international investors
The funding round concluded at EUR 38 million. Flanders-based investment company Ackermans & Van Haaren is investing EUR 6 million. Other investors include business leader Charles Beauduin, Thuja Capital (the Netherlands), imec.xpand, venture capital fund QBIC and Flanders’ investment fund PMV.
Indigo Diabetes hopes to bring the sensor to the market by the end of 2023. The latest investment round allows the spin-off to begin clinical studies on humans in Europe and the US. In total, Indigo has raised over EUR 45 million since 2016.
Reported by
Knack Magazine
