US-based diabetes management device manufacturer TypeZero Technologies was acquired by glucose monitoring provider Dexcom yesterday, marking the first exit for the University of Virginia Licensing and Ventures Group (UVA LVG) Seed Fund.
Financial terms were not disclosed. The Seed Fund is a $10m vehicle launched by the university’s commercialisation arm, UVA LVG, to back university-linked companies.
Founded in 2013, TypeZero Technologies develops diabetes management tools, called InControl, that include a smartphone-operated artificial pancreas system to help the patient keep track of insulin levels.
The technology connects to smart pens and automated insulin delivery systems, to control injections crucial to stabilising blood sugar levels.
Prior to the transaction, Dexcom had already worked alongside TypeZero and University of Virginia on projects including InControl’s compatibility with third-party devices. The company’s first automated insulin pen is due for commercial release in 2019.
TypeZero was one of UVA LVG Seed Fund’s first three publicly-disclosed investments…
