Senseonics files for first close after raising 42%

senseonicsSenseonics‘s first close reached $9.94 million. The company’s $23.6 million non-brokered equity issue was 42% sold to eleven investors. The first commitments were received almost two weeks ago. The offering will remain open until May 2015 while an additional $13.66 million worth of securities is sold to investors. The company closed three previous unregistered private placements which raised an estimated $115.56 million. The company is backed by Abingworth Management ltd., Anthem Capital, Delphi Ventures, Greenspring Associates, HealthCare Ventures, NEA and Rho Capital Partners.

Senseonics develops and manufactures a glucose monitoring solution. The solution encompasses a subcutaneous sensor implant that measures glucose in the interstitial fluid for up to six months, a wireless transmitter that activate and receives data from the sensor, and finally a smartphone application (app) to read the data in real-time.

The company, headquartered in Germantown MD, is led by Timothy T Goodnow (President and CEO). Senseonics elected to keep its revenues undisclosed.
The board of directors includes Douglas A Roeder, Ed Fiorentino, Francis H Zenie, John W Littlechild, M James Barrett, Peter Justin Klein and Stephen P Defalco.

The company has raised an estimated total of $125.49 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Senseonics
Industry: Biotechnology
Amount offered: $23.6 million
Amount placed: $9.94 million
First sale: 05-21-2014
Data as of: 05-30-2014


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