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UK-based Sava Technologies raised $36 million in a Series B round led by Ascensia Diabetes Care, which also received exclusive rights to market and distribute the sensor in Europe. The company aims to launch a wearable sensor after conducting a pivotal trial and seek CE marking within the next two years.
Senseonics has completed the transfer of marketing and sales operations for the Eversense 365 continuous glucose monitor from Ascensia Diabetes Care to its internal teams in the United States and Europe, coinciding with record revenue of $14.5 million in the second quarter. The company is developing a fully implantable version of the sensor capable of communicating directly with a phone for one year.