RSP Systems A/S, the technology leader within non-invasive glucose monitoring, announced the completion of a US$5.45 million Series A funding. The round was led by Prof. Dr. h.c. Roland Berger, who also joins the Board of Directors of RSP Systems. All of the company’s present investors also participated in this round.
The proceeds accelerate the company’s development of our device, which we believe will be the world’s first accurate, non-invasive glucose monitor for people with diabetes, based on RSP’s proprietary and clinically validated technology, Critical Depth Raman Spectroscopy. Therefore, and in preparation of the market entry of our device RSP Systems is reinforcing its team of staff. Staff is enhanced in the areas of quality assurance, regulatory affairs, product development, and business development.
Expanding testing activities
Noteworthy, RSP Systems now expands its clinical testing activities. Extensive clinical studies are initiated in collaboration with Odense University Hospital, a leading Danish hospital in the field of diabetes care and research. The clinical study will run until the end of 2016. It will further demonstrate the accuracy of RSP Systems’ 3rd generation prototype on an out-patient group size. A second study on diabetes in-patients is set to begin in H2 2016 at a diabetes clinic in Germany.
Roland Berger states: “RSP Systems has developed a technology at the intersection of medicine, physics, and engineering. It will improve the lives of millions of diabetic patients. Additional applications of the company’s technology could make RSP Systems a key player in the non-invasive diagnostics industry in the future.
I am very proud to support a venture that shapes diabetes diagnostics and improves the lives of patients. Furthermore, it is at the forefront of continuing the long-term trend towards ever less invasive diagnostic and therapeutical technologies.”
RSP’s Founder and CTO, Stefan O. Banke, says.: “We have made tremendous progress over the past two years, and our results trigger great interest among clinicians and investors alike. We are grateful for the continued strong support by our existing shareholders and excited about the investment by Roland Berger. His entrepreneurial spirit, extensive consulting experience, and global network will add great value to RSP Systems. This Series A round allows us to boost our development efforts. Furthermore, it leads towards the next major steps of bringing to market a non-invasive glucose monitoring solution. The solution will provide people with diabetes including young ones, with a pain-free, convenient alternative to today’s finger-prick based blood glucose monitoring.“
From July 8th, the company’s management team will consist of board member and interim CEO Anders Weber, and CTO and Founder Stefan Banke. Jacob Philipsen will at the same time step down as CEO and join the board.
About RSP Systems A/S
RSP Systems is dedicated to improving the health and quality of life of people. RSP does this worldwide through its unique and patented solution for non-invasive diagnostics. The first targeted application is a product line of non-invasive glucose monitors. The monitors provide diabetic patients with a convenient, pain-free alternative to the current invasive solutions. Current alternatives require the user to puncture his or her skin to extract blood onto an expensive test strip. Self-monitoring of glucose is a vital element of efficient and safe diabetes care. It constitutes a global market exceeding USD 10 billion annually.
RSP Systems is located in Odense, Denmark, founded in 2006 as a spin-out from the Biophotonics Group at the University of Southern Denmark (SDU). RSP’s technology, Critical Depth Raman Spectroscopy, is based on a direct optical detection principle, Raman spectroscopy. This is a mature technology to which RSP has developed and patented improvements. These enable the measurement of concentrations of various substances in the interstitial fluid. (Tissue fluid surrounding the cells of the body) non-invasively through the skin.
Proof-of-concept for glucose measurement in diabetic persons has been demonstrated through pilot trials. A new major clinical pilot study is currently ongoing in collaboration with Odense University Hospital (OUH) in Denmark. The purpose hereof is demonstrating the clinical performance of an improved prototype.
About Prof. Dr. h.c. Roland Berger
Roland Berger is Founder of the strategy consultancy “Roland Berger” and has been the company’s Honorary Chairman since 2010. From company foundation in 1967 until 2003, Roland Berger was the CEO, and until 2010, Chairman of the Supervisory Board.
Roland Berger is also a member of several supervisory boards and advisory councils of national and international companies, foundations and organizations. Hence, he is an active investor in many private and listed companies as well as startups around the world.
He is also Chairman of the Board of Trustees of the Roland Berger Foundation. The foundation is first of all dedicated to the global protection of human dignity. Therefore, the foundation helps gifted children and young people from underprivileged families to gain access to the best possible primary and secondary education.