Access Menu

Log in via Social

Glucovation

Glucovation

Glucose sensor, B2B, high margins. We aspire to be the "Intel inside" for wearable glucose sensing systems.

Verify Investor Status to make a reservation

Deal Type

Equity

Funding Goal

$2,000,000

Current Reservations

$15,000

Minimum Reservation

$15,000

Maximum Reservation

$2,000,000

Deal Stage

Bridge to Series B

Pre-money Valuation

$38,000,000

Open Date

01/06/2019

Closing Date

04/06/2019

Elevator Pitch

We aspire to be the "Intel inside" for wearable glucose sensing systems.

Company Overview

Founded in 2013, Glucovation has developed a continuous glucose monitoring system (CGM) for the diabetic patient. CGM is the new technology replacing the old technology of blood glucose (BG) meters. The BG meter market is $40B and the CGM market is $1B with 30% CAGR.

Our CGM sensor is based on new sensing technology that is highly accurate, factory calibrated, and very low cost to manufacture, (high margins).

Glucovation has developed a novel CGM that addresses the deficiencies of the existing CGM systems. The main players currently in this market are Medtronic, Dexcom and Abbott. All three are chasing the triad of (1) high accuracy, (2) ease of use (factory calibration which equals no fingersticks), and (3) low cost to the patient, (which requires low manufacturing cost).

Our CGM system has been designed from the beginning to be highly accurate, factory calibrated and low cost to manufacture. We have (3) patents on our current technology and have obtained very good pre-clinical results. The market is very large, (greater than $1B), and growing fast, (CAGR ~ 30%). There are 20+ companies, large and small, that are trying to enter this market. These potential strategic partners are insulin drug companies, insulin pump companies, blood glucose meter companies, medical device companies seeking entrance into this large and fast growing market, and other glucose sensing companies that desire a better sensor than their current products.

Our technology is developed and ready for confirmatory clinical trials. Our strategy is to obtain ISO certification, conduct clinical trials and file for regulatory approval. At the same time, we are cultivating relationships with potential strategic partners. Obtaining the right strategic partner(s), will allow us to leverage their existing infrastructure and go to market quickly.

Traction

  • Glucovation achieves consistently solid in-vivo results with high accuracy

    October, 2018
  • Glucovation achieves consistently solid in-vitro results

    September, 2018
  • Glucovation significantly improves sensor-build yields

    August, 2018
  • Glucovation develops Fused Membrane Technology™ (FMT) and files patent

    July, 2018
  • Glucovation halts clinical trials and refocuses on improving foundational sensor chemistry and sensor-build process

    December, 2017
  • Glucose sensor accuracy good but not good enough

    November, 2017
  • Glucovation conducts a series of clinical trials in China

    October, 2017
  • Glucovation obtains investment at a $20M valuation

    March, 2017
  • China Sun enters into Development Agreement

    March, 2016
  • China Sun invests in Glucovation at a $10M valuation

    September, 2015
  • Glucovation files three patents

    April, 2014
  • Founders form Glucovation to develop novel and superior CGM technology

    May, 2013

Pitch Deck

Key Customers & Partners

China Sun

Previous Funding

  • $3,100,000 Other
  • Raise Source: Investors
  • March 2017
  • $1,000,000 Equity
  • Raise Source: Investors
  • March 2017
  • $2,500,000 Other
  • Raise Source: Investors
  • August 2016
  • $2,000,000 Equity
  • Raise Source: Investors
  • November 2015
  • $650,000 Convertible Note
  • Raise Source: Investors
  • July 2014

Frequently Asked Questions

What is GV developing?

Currently the majority of diabetics use blood glucose meters, also known as fingersticks or BG meters, to obtain their glucose levels throughout the day. Using multiple fingersticks, usually prior to meals, the diabetics can then determine how much insulin to inject or dose into their bodies. Replacing fingersticks, GV is developing a wearable glucose sensor for diabetics, also known as a continuous glucose monitor or CGM. A CGM is worn on the body and gives the patient their glucose levels every 5 minutes for 10 days. The CGM device is coupled with a smart device so the patient can see their trends and also obtain alarms when their blood sugar or glucose levels go too high or too low.

How does GV intend to compete with Medtronic, Dexcom and Abbott?

The strategy involves strategic partnerships. Rather than compete directly, GV will leverage its superior technology and low cost of goods to supply other large players that already have the existing infrastructure to compete with M, D and A.

What is the current state of GV technology?

GV technology works. It works on the bench, in vitro. It works in the body, in vivo. We did clinical testing in people in 2017 in China and achieved decent but not great results. We then put a pause on clinicals and spent the last year upgrading the (a) sensor chemistry, (b) sensor-build process and (c) the applicator design. After these changes we achieved significant improvements in vitro and in vivo. Our recent in-house clinical trials have yielded industry leading accuracy with the system in a pre-commercial state. Our next step is to conduct a second round of clinicals to confirm our in-house results.

With strategic partnerships a core piece of the GV strategy, what is the state of strategic partnership outreach?

We have connected with several strategic targets. We are speaking with one company specifically about a partnership to produce the first low cost disposable artificial pancreas pairing our glucose sensor with their insulin patch pump. Another has indicated that they would be extremely interested if we could provide them a small sample of clinical data that met a certain threshold. Our in-house clinical data meets that threshold, however we need to conduct an out of house clinical for the next step with them. Speaking with these strategics, it became evident that as a small company our negotiating position is weaker if we are only courting one strategic partner versus multiple ones. Therefore, our strategy is to achieve as much progress, clinical trials and regulatory filings, as possible under our own capital before engaging all the way. This strategy seeks to maximize the benefits to GV and its investors of any long-term deal.

Risks & Disclosures

Market Risks:

We have a large and already established market as the CGM market was pioneered by Medtronic and Dexcom and is known to be very large and growing very fast especially when considering that it is taking over the BG meter market.

Technological risks:

We have established our patented technology that we developed over the last five plus years. Our technology was confirmed through due diligence by an established company as they were targeting our glucose sensing technology for their in-hospital liver therapy system. In addition, we have seen consistently good in-vivo results with our latest technology, but it requires confirmatory clinical trials.

Cost risks:

Our manufacturing process is simple as the technology was designed for low cost manufacturing. We have targeted price points that should allow us to open new low cost markets and offer a lower cost, highly accurate sensor to the existing market.

Regulatory risks:

The regulatory path is established and well known. In fact, the regulatory path was recently made simpler and faster as Dexcom has obtained a Class II 510(k) FDA regulatory approval for their latest iCGM device which we can follow.

Execution risks:

Execution risk depends on the competence of the management and employees. The GV management have worked in this space for many years and know the landscape. In addition, we have overcome amazing obstacles and have proven that we can create and innovate under pressure and can navigate difficult challenges.

Financial risks:

Obtaining investment capital to finance the plan execution is the biggest risk at this time.


DISCLAIMER: THIS PRESENTATION IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL, OR A SOLICITATION OF AN OFFER TO BUY, ANY SECURITIES OF, OR INTEREST IN, GLUCOVATION, INC. (THE “COMPANY” OR “WE”) OR ANY OTHER SECURITIES. INTERESTS IN, OR SECURITIES OF, THE COMPANY WILL BE OFFERED ON A PRIVATE PLACEMENT BASIS (I.E., PURSUANT TO EXEMPTIONS FROM PROSPECTUS AND REGISTRATION REQUIREMENTS UNDER APPLICABLE SECURITIES LEGISLATION) ONLY TO THOSE PERSONS WHERE AND TO WHOM THEY MAY BE LAWFULLY SOLD AND ONLY BY PERSONS LAWFULLY PERMITTED TO SELL SUCH INTERESTS OR SECURITIES PURSUANT TO DEFINITIVE DOCUMENTS PROVIDED THEREFOR.INVESTORS SHOULD CONDUCT THEIR OWN DILIGENCE PRIOR TO PURCHASING ANY SECURITIES FROM THE COMPANY.

THIS PRESENTATION INCLUDES “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF THE SECURITIES ACT OF 1933, AS AMENDED, THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED, AND AS DEFINED BY THE SECURITIES AND EXCHANGE COMMISSION.THIS INCLUDES, BUT IS NOT LIMITED TO, STATEMENTS AS TO FUTURE OPERATING RESULTS AND PLANS THAT INVOLVE RISKS AND UNCERTAINTIES. ALL STATEMENTS, OTHER THAN STATEMENTS OF HISTORICAL FACTS, INCLUDED IN THIS PRESENTATION THAT ADDRESS ACTIVITIES, EVENTS OR DEVELOPMENTS THAT WE “EXPECT,” “BELIEVE” OR “ANTICIPATE” WILL OR MAY OCCUR IN THE FUTURE ARE FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS ARE BASED ON ASSUMPTIONS WHICH WE BELIEVE ARE REASONABLE BASED ON CURRENT EXPECTATIONS AND PROJECTIONS ABOUT FUTURE EVENTS AND INDUSTRY CONDITIONS AND TRENDS AFFECTING OUR BUSINESS. HOWEVER, WHETHER ACTUAL RESULTS AND DEVELOPMENTS WILL CONFORM TO OUR EXPECTATIONS AND PREDICTIONS IS SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES THAT, AMONG OTHER THINGS, COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD LOOKING STATEMENTS. THOUGH THERE ARE STATEMENTS IN THIS PRESENTATION REGARDING OUR EXPECTATIONS TO ACHIEVE PROFITABILITY, THERE IS NO GUARANTEE THAT WE WILL EVER ACHIEVE PROFITABILITY OR THAT OUR REVENUES WILL GROW OR CONTINUE. NEW FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN FORWARD-LOOKING STATEMENTS EMERGE FROM TIME TO TIME, AND IT IS NOT POSSIBLE FOR US TO PREDICT ALL SUCH FACTORS, OR THE EXTENT TO WHICH ANY SUCH FACTOR OR COMBINATION OF FACTORS MAY CAUSE ACTUAL RESULTS TO DIFFER FROM THOSE CONTAINED IN ANY FORWARD-LOOKING STATEMENT. WE ASSUME NO OBLIGATION TO UPDATE ANY SUCH FORWARD-LOOKING STATEMENTS, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

Documents

Confidential

Loading...