Dive Brief:
- Luna Health, a startup developing an insulin patch pump to help with overnight glucose control, raised $23.6 million in Series A funding.
- The company is developing a small patch pump with a fully closed-loop insulin dosing algorithm, intended for people with Type 1 and Type 2 diabetes who rely on insulin pens.
- Luna plans to use the funds to advance regulatory submissions, conduct clinical studies, build manufacturing capacity and expand clinical access programs, the company said in a Monday announcement.
Dive Insight:
Luna was founded by three executives who have a background in healthcare technology, and have personal experience managing diabetes — either for themselves or their children.
CEO John Sjölund and CFO Jon Brilliant, both co-founders of the company, previously were executives at Bigfoot Biomedical, a company that makes smart pen caps that use data from continuous glucose monitors to provide insulin dose recommendations. Abbott acquired the company in 2023.
Beta Bionics CEO Sean Saint is also a co-founder and board member of Luna.
They started the company with the goal of opening access to insulin patch pumps for people who take multiple daily insulin injections. During the day, people continue to use their insulin pens. However, at night, the patch pump can deliver rapid-acting insulin, calculating the dose automatically using CGM data.
“We regularly hear from the diabetes community about their struggles with nighttime glucose control,” Sjölund wrote in a blog post on Monday. “Parents of children with Type 1 diabetes who set multiple alarms to check blood sugar levels. Adults with Type 2 diabetes who avoid evening activities because they're worried about overnight complications.”
Traditional insulin pumps can help with nighttime glucose control, but they can be complex, expensive and require lifestyle changes. By focusing on nighttime glucose control, Luna is able to provide a less-complex, lower-cost device, the company said in a statement.
The funding round was led by Vensana Capital, a Minneapolis-based venture capital fund. Other investors include the Swiss Diabetes Venture Fund, Ascensia Diabetes Care and Winklevoss Capital.
