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Ann Arbor's Hygieia lands $1.5 million in seed capital

Hygieia recently secured another $1.5 million in seed capital, right on the heels of a recently released study that shows tremendous potential for the 3-year-old start-up's diabetes treatment technology.

The Ann Arbor-based firm's principal product is the Diabetes Insulin Guidance System, a handheld device that helps insulin-takers effectively manage their diabetes. The Diabetes Insulin Guidance System adjusts dosage weekly, to aid in patients' treatment. A study presented at the June American Diabetes Association conference helped prove Hygieia's platform.

"They improved so dramatically that it led to everything you have seen this year," says David Bloom, vice president of products for Hygieia.

That includes a $1.5 million investment from Oakwood Medical Investors, a physician-managed venture fund in St. Louis. So far Hygieia has raised $3 million in seed capital from the like of the National Institute of Health and angel investors. It hopes to complete a Series A round of fundraising within the next year as it looks to launch its Diabetes Insulin Guidance System in the United Kingdom in 2012 and in the U.S. in 2013.

Hygieia, an Ann Arbor SPARK graduate, employs six people and is currently in the process of adding three more. It expects to add up to a dozen jobs as it launches its product. "There is no way we won't grow," Bloom says.

Source: David Bloom, vice president of products for Hygieia
Writer: Jon Zemke
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  • Hygieia
    3614 Weeburn
    Ann Arbor, MI 48108 Website
    Hygieia, Inc has commercialized University of Michigan technology to revolutionize diabetes care. Hygieia leverages the mature glucose meter business model, to market an easy-to-use handheld device that continuously optimizes a patient's insulin ...