March 18, 2008 – Luminous Medical, Inc. announced that it has completed a $23.5 million round of Series B financing. Adams Street Partners led the investment, joined by new investors RiverVest Venture Partners, and Finistere Ventures. Existing investors De Novo Ventures and Latterell Venture Partners also participated in the round.The company is developing an automated blood glucose monitor for in-hospital use with critically ill patients. Establishing tight glucose control in these patients has been shown to improve outcomes including highly significant reductions in complications, length of stay and mortality. The Luminous Medical monitor will simplify the implementation of tight glucose control by providing frequent glucose measurements automatically... [PDF] Luminous Medical's Press Release -
