By Jennifer Chiou
New York, Nov. 16 - Luminous Medical Inc. said it closed on $9 million in series A preferred stock financing for the commercialization of an automated, continuous whole blood glucose monitor for in-hospital use with critically ill patients.
Luminous Medical's monitor uses InLight Solutions-licensed technology to simplify the implementation of tight glucose control, the company said.
"Maintaining tight glucose control in critically ill patients is increasingly recognized as an important new requirement," Luminous Medical chief executive officer Rick Thompson said in a news release.
"We expect to be the first to provide a product that automates glucose monitoring to aid caregivers in delivering optimal patient care."
Luminous Medical is the fourth spin-off from InLight Solutions.
Based in Carlsbad, Calif., Luminous Medical manufactures products to monitor blood glucose levels.
| Issuer: | Luminous Medical Inc.
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| Issue: | Preferred stock
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| Amount: | $9 million
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| Round: | Series A
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| Announcement date: | Nov. 16
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