Diabetes mobile health company snags $48 million from investors
Last week London-based mobile diabetes management company, Cellnovo announced a whopping $48 million second round of funding. While the company has been long known as the developer of a wireless-enabled insulin pump, in recent years it has stressed its software competency, and even made analagous comments between its offerings and Apple’s iTunes Store.
Last week London-based mobile diabetes management company, Cellnovo announced a whopping $48 million second round of funding. While the company has been long known as the developer of a wireless-enabled insulin pump, in recent years it has stressed its software competency, and even made analagous comments between its offerings and Apple’s iTunes Store.
This week Medcity News pointed its readers to a quote from Cellnovo’s CEO Bill Mckeon from an issue of Invivo last year:
“If people understand Cellnovo as a device that sends data to a website, they are missing the point. If you had asked Steve Jobs at Apple about his new MP3 player called the iPod, and how it compares to other MP3 players, he might have said, ‘I am not making an MP3 player. I’m bringing entertainment into your life in a number of ways,’” Mckeon said at the time.
Cellnovo’s recent round of financing included the backing of a number investors: Edmond de Rothschild Investment Partners (EdRIP), Forbion Capital Partners; Auriga Partners, NBGI Ventures, and Credit Agricole Private Equity. Return backers from the company’s first round of funding include Advent Venture Partners, HealthCare Ventures, and NESTA.
Cellnovo said it would use the funds to expand to markets in other parts of the world. Read this article from Medcity News for more or read more from the Cellnovo press release after the cut.
http://mobihealthnews.com/10189/diabetes-mobile-health-company-snags-48-million-from-investors/
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