London-based startup Sava Technologies has raised 拢14.2m in Series A funding following promising early results from its clinical trial.聽
The MedTech is developing real-time molecular health monitoring and will use the investment to accelerate regulatory approval and commercialisation of its wearable device.
Founded in 2019 by Imperial College London bioengineers Renato Circi and Rafa毛l Michali, the company鈥檚 mission is to build the technological foundation for preventative and personalised healthcare.聽
The team has developed a multi-molecule biosensor capable of detecting biomarkers just beneath the skin, in real-time.聽
This technology is powering Sava鈥檚 first product 鈥� a pain-free continuous glucose monitor (CGM) that streamlines molecular insights in real-time to your phone, at a reported lower cost.聽
Sava鈥檚 latest clinical trial, conducted independently by third-party investigators across sites in Oxford and Cambridge, involved 50 patients with Type 1 and insulin-dependent Type 2 diabetes.
Early results from the first 25 patients showed Sava鈥檚 proprietary technology delivered reliable, accurate glucose readings for up to 10 days of continuous wear – a milestone no other microsensor platform has been able to achieve to date.
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鈥淭his clinical trial marks a pivotal moment not just for Sava, but for the future of biosensing and personalised healthcare,鈥� said Rafa毛l Michali, co-founder and co-CEO of Sava.聽
鈥淭he data generated so far has shown that our technology has the potential to match the performance of leading CGMs in the market today, without the invasiveness or high cost of filament-based systems.聽
鈥淚t paves the way for a completely novel approach to biosensing that can redefine the way we approach not only chronic disease management, but any health goal.鈥�
James Wise, partner at Balderton, added: 鈥淯nderstanding what鈥檚 going on in our bodies is the first step to improving our health.
鈥淪ava鈥檚 innovation has the potential to democratise access to glucose monitoring, as well as many other biomarkers, making them more practical for the millions of people who need them but can鈥檛 afford or tolerate the current options.聽
鈥淏eyond diabetes, which alone is one of the greatest health challenges of our time, their platform opens the door to an entirely new era of personalised health monitoring.鈥�
The round was led by Balderton Capital and Pentland Ventures, with strong participation from new investors Norrsken VC and JamJar Investments.
Funding will also be used to grow the company鈥檚 60-strong-team and advance its automated manufacturing capabilities.
The company has now received nearly 拢24m in investment since it was incorporated in late 2016.