Navigation Links
Intuity Medical Secures $20M Credit Facility From Silicon Valley Bank and Oxford Finance Corporation
Date:2/28/2011

SUNNYVALE, Calif., Feb. 28, 2011 /PRNewswire/ -- Intuity Medical, Inc.™, a privately-held company developing innovative technologies in diabetes management, announced that it has secured a $20M credit facility from Silicon Valley Bank and Oxford Finance Corporation. The funds will be used to help complete clinical trials and commercialize POGO™, a fully-integrated blood glucose monitoring system.

Intuity Medical's POGO combines traditional blood glucose testing supplies into one compact meter and multi-test cartridge system. It provides One-Step™ testing with automatic blood sampling and glucose analysis. Because of its unique self-contained cartridge, patients with diabetes will no longer need to carry, handle or dispose of separate testing supplies. POGO can also provide healthcare professionals with an easier way to teach patients how to test their blood glucose and, ultimately, manage their diabetes.

"Our mission is focused on simplifying diabetes management for millions of people," said Emory Anderson, President and CEO, Intuity Medical. "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."

"Intuity Medical is entering a very exciting phase, seeking both FDA clearance and CE Marking to launch POGO commercially," said Rob Freelen 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.  We appreciate that our clients' technologies advance standards of care for difficult diseases and are excited to partner with Intuity Medical in its mission to improve the treatment of diabetes."

About Intuity Medical

Intuity Medical is a privately-held company located in Sunnyvale, CA. The Company is committed to simplifying diabetes management by developing proprietary and innovative technologies that help eliminate a majority of the most common barriers to glucose testing. POGO, the first All-in-One System, simplifies blood glucose testing, and gives patient's greater discretion and flexibility to test anytime, anywhere. For more information about the POGO Blood Glucose Monitoring System and Intuity Medical, please visit www.intuitymedical.com or www.presspogo.com.

About Silicon Valley Bank

Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, and SVB Private Client Services.  More information on the company can be found at www.svb.com.

Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

About Oxford Finance Corporation

A subsidiary of Sumitomo Corporation, Oxford is a specialty finance firm providing senior secured loans to public and private life science and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. In recent years, Oxford has originated over $1.5 billion in loans, with lines of credit ranging from $500 thousand to $40 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in California, Massachusetts and North Carolina. For more information visit www.oxfordfinance.com.


'/>"/>
SOURCE Silicon Valley Bank
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Dehaier Medical Retains The Piacente Group as Strategic Investor Relations Consulting Firm
2. Winner Medical to Attend Investor Conferences in March
3. HASCO Medical Expands Online Offering
4. Seniors in Florida Report Problems Obtaining Needed Home Medical Equipment and Services Under Controversial Medicare Bidding System
5. BrainScope® Announces Appointment of Professor Peter Andrews, MD to Its Medical Advisory Board
6. Reportlinker Adds Global Biosensors in Medical Diagnostics Industry
7. American Medical Systems Announces U.S. Launch of Conceal™ Low Profile Reservoir for Penile Prosthetics
8. Symmetry Medical Reports Fourth Quarter and Full Year 2010 Financial Results
9. Roche Teams with Womack Army Medical Center to Become First IVD Manufacturer approved for Remote Network Connectivity with DOD
10. Reportlinker Adds Global Medical Ultrasound Equipment Industry
11. Plexus Biomedical Inc. Gains FDA Approval of the First Medical Device to Help Prevent External Hemorrhoids During Vaginal Childbirth
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/12/2017)... June 12, 2017 Kineta, Inc., a biotechnology company ... Kineta Vice President of R&D and Head of Virology ... Pandemic Preparedness for the Northwest and Beyond meeting sponsored ... June 14, 2017 from 8:30-10:30 AM PDT at the Agora ... Dr. Bedard will be joined by other leaders ...
(Date:6/8/2017)... Fla. , June 8, 2017  Less than ... that hit more than 200,000 companies, including hospital networks, ... being heralded as one of the largest online extortion ... in the healthcare market, it is imperative that providers ... protect their data from this — and many other ...
(Date:6/7/2017)... June 6, 2017  Diplomat Specialty Infusion Group, a brand of ... to its Iowa location. The ... now features an ISO 7 cleanroom—the standard needed to compound ... a low level of pollutants. ... consumers and better serve our Iowa patients," ...
Breaking Medicine Technology:
(Date:6/20/2017)... DIEGO, California (PRWEB) , ... June 20, 2017 ... ... product documentation and help content solutions for the enterprise, is proud to announce ... properties, including CRM, e-commerce, ticketing systems, company websites, and more to provide a ...
(Date:6/20/2017)... Cincinnati, Ohio (PRWEB) , ... June 20, 2017 ... ... with gum disease in Cincinnati, OH for leading-edge care, whether or ... advances in laser dentistry. Using the BIOLASE WaterLase® iPlus™ laser, she targets bacteria ...
(Date:6/20/2017)... ... June 20, 2017 , ... With certifications and experience ... in Denville, NJ, Drs. Adam and Hal Kimowitz are currently accepting new patients at ... traditional orthodontics can cause for some patients, which is why they offer the latest ...
(Date:6/20/2017)... ... June 20, 2017 , ... This year, participants ... focused on finding product improvements that could reduce the occurrence of unplanned extubations ... need help breathing or to provide medication. Sometimes, patient movement can cause unplanned ...
(Date:6/20/2017)... , ... June 20, 2017 , ... ... makers of SweetLeaf® Stevia Sweetener, Michael P. May, Ph.D., recently accepted the distinguished ... Export Recognition Program selected Wisdom Natural Brands (WNB), and 16 other businesses from ...
Breaking Medicine News(10 mins):