Several companies that help people with diabetes manage their disease have received significant funding recently, according to an article from the Wall Street Journal.
One of the reasons for the increased interest is the sheer number of people with the disease. There are between 24 million and 28 million people with diabetes in the United States, the vast majority of them with Type 2. There is an estimated additional 57 million people with Pre Diabetes, a condition that can, and often does, lead to Type 2 diabetes. Another reason is the growing interest in preventative care, which can help save the healthcare system significant dollars down the road, not to mention the benefit it can have to many people suffering from chronic illnesses.
People with Type 2 diabetes produce insulin, the hormone responsible for regulating sugar in the blood, but their body doesn’t use it properly. People with Type 1 diabetes do not produce the hormone at all and need to inject it into their body. If blood sugar levels are left unchecked it can lead to a number of series short-term and long-term complications, including heart disease, stroke, blindness, kidney failure, amputations and even death.
Here’s a look at some of the companies that have received funding recently:
- Intuity Medical, which raised $64 million in financing, is a company that makes products that helps diabetics test their blood sugar levels.
- Calibra Medical, which raised $9.3 million, makes insulin delivery devices.
- CeQur SA, which raised $30.6 million late in 2009, makes insulin delivery devices and looks to develop a patch that will eliminate the need for daily insulin injections for people with Type 2 diabetes.
- Flexible Medical Systems, which raised $1.3 million last month, looks to monitor blood sugar levels through interstitial fluids.
- MicroChips Inc., which raised $16.5 million, makes implantable microchips that may help deliver drugs in humans, plans to test its continuous glucose monitor in humans.
- Tandem Diabetes Care Inc, which raised $52.3 million, makes insulin pumps.
To receive free news updates from Diabetes News Hound delivered straight to your Inbox, sign up here.
If you already receive the free Alerts, spread the word by telling a friend to sign up here.
