The Sarnoff spinoff will use the financing to commercialise its diabetes management and glucose measuring technology in the US.
Intuity Medical, a US-based diabetes management technology provider spun out of video and semiconductor research and development provider Sarnoff Corporation, secured the first $42.5m of a planned $70m financing round yesterday.
Accuitive Medical Ventures, Investor Growth Capital, KCK Group, PTV Healthcare Capital, US Venture Partners, Versant Ventures and affiliates of Luther King Capital Management are among the participants that are providing $40m of equity financing, with $30m of debt to be supplied by Hercules Capital.
Sarnoff, which has subsequently been…
