Digital therapeutics company Hygieia has received a total funding of $22m in a Series B round to expand the availability of its d-Nav insulin technology.
The financing round was led by venture capital company Firstime Ventures, with participation from two strategic partners.
Hygieia’s d-Nav technology is claimed to be the only technology approved by the US Food and Drug Administration for automatically adjusting insulin dose recommendations to align with the evolving insulin requirements of a patient.
It provides the functionality of a closed-loop system for individuals who administer insulin through injections.
Patients receive the accurate dosage of insulin with every injection, eliminating the necessity for physician involvement.
Studies revealed that approximately 90% of individuals using d-Nav technology experience enhanced A1C levels within a period of 90 days. This improvement is accomplished without an increase in the risk of hypoglycemia.
Hygieia CEO and co-founder Eran Bashan said: “This is a validation of our d-Nav technology and its potential to expand the availability of closed-loop functionality for those who inject insulin, which is 90% of insulin users.”
Hygieia’s d-Nav Clinical Partnership Programme is currently available in the US states of Michigan, Texas, Arizona and North Carolina for endocrinology practices specialising in the treatment of patients with type 2 diabetes.
The programme will soon be introduced in more states.
In December 2021, the company closed an initial Series B round of $17m. The company used the funding for its clinical partnership programme and for expanding access to d-Nav technology.