Michigan medical device company Hygieia, which is developing a personalized glucose meter for diabetes patients, has started raising fresh capital.
The 2-year-old startup closed on $400,000 and could raise as much as $2 million, according to a regulatory filing. Company executives previously said they want to win U.S. Food and Drug Administration approval for their device next year.
Hygieia’s glucose monitoring system would allow diabetics to adjust the amount of glucose they inject without visiting a doctor. The device provides dose-by-dose insulin recommendations based on their body chemistry as well as a blood sample. The product is called the Diabetes Insulin Guidance System, but is often described as a GPS for diabetes, adjusting someone’s diabetes goals the way a GPS guides drivers on the road.
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