C8 MediSensors Closes $19 million Preferred Stock Financing

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• Publié par: c8-medisensors-inc
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• Langue: English

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C8 MediSensors Closes $19 million Preferred

Stock Financing

PR Newswire

SAN JOSE, California, June 12, 2012

- Plans to Introduce Optical Glucose Monitor in

Europe

in 2012

SAN JOSE, California

,

June 12, 2012

/PRNewswire/ -- C8 MediSensors, Inc.

(www.c8medisensors.com), the leading company developing noninvasive

continuous glucose monitoring for people with diabetes, announced today that

it has raised an incremental

$19 million

through the sale of Preferred C-1 stock.

This additional round of funding helps C8 MediSensors prepare for its upcoming

product launch in

Europe

. C8 MediSensors' leading investors participated in this

funding round.

Nearly 300 million people worldwide suffer from diabetes. C8 MediSensors has

pioneered the use of light, specifically Raman spectroscopy, to measure

glucose non-invasively with a continuous glucose monitor that is worn around

the abdomen and sends readings to the user's smartphone.

C8 MediSensors' CEO, Paul Zygielbaum, himself a person with diabetes,

commented: "Better diabetes management requires better glucose visibility to

the patient. You can't control what you can't see. After years of research,

development and clinical testing, we are thrilled to be on the verge of

introducing our optical glucose monitor, which is designed to provide people

like me with continuous visibility into their glucose levels throughout the day."

C8 MediSensors has filed for CE Mark approval and plans to introduce their

optical continuous glucose monitor in

Europe

in 2H 2012, pending regulatory

approval.

About C8 MediSensors

Headquartered in

San Jose CA

, C8 MediSensors' breakthrough patent-protected

technology is being developed to give people with diabetes an adjunctive,

continuous view of their glucose levels.

Visit www.c8medisensors.com.

This document contains forward-looking statements. Any statements contained

in this document that are not statements of historical fact may be deemed to

be forward- looking statements, including, without limitation, statements

relating to C8 MediSensors' anticipated product sales and financing needs.

These forward-looking statements are based upon C8 MediSensors' current

expectations. Actual results could differ materially from these forward-looking

statements as a result of certain factors, including, without limitation, risks

associated with market conditions, customer demand for the product, and risks

and uncertainties associated with C8 MediSensors' business and finances in

general. You are cautioned not to place undue reliance on these forward-

looking statements, which speak only as of the date of this document. C8

MediSensors does not undertake any obligation to update any forward-looking

statements as a result of new information, future events, changed assumptions

or otherwise.

C8 MediSensors, Inc. 6375 San Ignacio Avenue,

San Jose, CA

95119,

USA

www.C8MediSensors.com