London-based startup Sava Technologies has raised £14.2m in Series A funding following promising early results from its clinical trial.
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 Rafaël Michali, the company’s mission is to build the technological foundation for preventative and personalised healthcare.
The team has developed a multi-molecule biosensor capable of detecting biomarkers just beneath the skin, in real-time.
This technology is powering Sava’s first product – a pain-free continuous glucose monitor (CGM) that streamlines molecular insights in real-time to your phone, at a reported lower cost.
Sava’s 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’s 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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“This clinical trial marks a pivotal moment not just for Sava, but for the future of biosensing and personalised healthcare,” said Rafaël Michali, co-founder and co-CEO of Sava.
“The 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.
“It 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.”
James Wise, partner at Balderton, added: “Understanding what’s going on in our bodies is the first step to improving our health.
“Sava’s 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’t afford or tolerate the current options.
“Beyond 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.”
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’s 60-strong-team and advance its automated manufacturing capabilities.
The company has now received nearly £24m in investment since it was incorporated in late 2016.