US-based disease management technology developer Glympse Bio completed a $46.7m series B round yesterday that was led by venture capital firm Section 32 and which included biopharmaceutical company Gilead Sciences.
Temasek, DNS Capital, New Leaf Venture Partners, Waterman Ventures, Catalio Capital Management, Arch Venture Partners, CRV, GreatPoint Ventures and Polaris Partners’ LS Polaris Innovation Fund filled out the round.
Glympse will use the capital to further development of its biosensor system, which is designed to detect biological changes caused by diseases such as cancer, non-alcoholic steatohepatitis and infectious diseases in real time through the use of non-invasive sensors.
The round followed the formation of a strategic collaboration agreement with Gilead in October 2019 that will involve Glympse’s technology being assessed for use in disease diagnosis and prognosis.
The company was spun out of Massachusetts Institute of Technology in 2015 and the company’s technology is based on work by Sangeeta Bhatia at its Institute for Medical Engineering and Science.
LS Polaris Innovation Fund and Arch Venture Partners co-led Glympse’s $22m series A round in late 2018, investing with Gilead, healthcare provider Heritage Provider Network, GreatPoint Ventures, CRV, Rivas Capital, Yonghua Capital and Inevitable Ventures.
Caroline J. Loew, Glympse’s president and CEO, said: “The confidence and commitment from our new and existing investors further reinforces Glympse’s vision to improve the way diseases are understood, treatments are developed, healthcare is delivered and patients are restored to health.”
