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Tokyo, Japan – Provigate Inc. (Headquarters: Bunkyo-ku, Tokyo; President & CEO: Koshin Sekimizu; hereafter “Provigate”) announces the completion of a 2-billion-yen capital raise through a combination of grants and equity financing.
Provigate is advancing the development of compact home-use devices for glycated albumin (GA) measurement and a diabetes behavior support application. The company has been awarded a grant of 1.2 billion yen under the NEDO Deep Tech Startup Support Program (DMP Phase), part of Japan’s Five-Year Startup Development Plan. In addition to previous shareholders AIN Group, SPARX, Toyoda Gosei, and JST, new equity investment of 830 million yen was also secured from Sysmex, the Next-Generation Regional Healthcare Industry Activation Fund L.P. (managed by the Regional Economy Vitalization Corporation of Japan and other organizations), and individual investors.
This funding will accelerate the commercialization and clinical research of GA-based compact testing devices. Provigate also aims to expand its pilot “glucoreview®” service, which offers weekly GA testing via mail-in samples. This initiative seeks to enhance the quality of life and optimize health management for individuals with diabetes or prediabetes.
◆ Contact Information
e-mail：info@provigate.com
People may think of glucose monitoring as simple as this: "Diabetes is a disease of blood sugar. This is why people with diabetes use glucometer."
However, it's not that simple. Blood sugar measurement has diverse objectives, including diagnosing diabetes, dosing self-injection of insulin, avoiding hypoglycemia due to excessive drug efficacy, and behavior change.
You must choose the appropriate blood sugar measurement method for your purpose.
There are two types of self-blood glucose measurement methods: SMBG (Self-Monitoring of Blood Glucose), which is widely used, and CGM (Continuous Glucose Monitoring), which has become popular in recent years.
These two blood glucose measurement methods are designed mainly for patients who self-inject insulin and other injectable drugs.
Until now, there has been no simple and daily method for measuring blood glucose at home other than these two methods.
Some drugs, such as insulin, are very potent and can cause dangerous hypoglycemia if the dosage is incorrect.
Therefore, for example, those who use insulin must measure their blood glucose accurately before self-injection at home and carefully determine the dose.
After injection, if there are signs of hypoglycemia, it is necessary to measure blood glucose immediately. If necessary, you need to take some sugar to avoid hypoglycemia.
However, both methods have an issue with invasiveness. In addition, they cost a lot. CGM costs at least $60 and needs to be replaced every two weeks, which is also a significant economic burden. SMBG requires frequent measurements, so the total cost becomes significant when accumulated.
Unfortunately, SMBG and CGM are not suitable for everyone due to invasiveness and cost.
Let’s make significant innovations in the era of the healthcare revolution.
We’re looking for talented and enthusiastic individuals to create a better future for everyone.
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