The live systems seed fund has invested in non-invasive glucose meter based on spectroscopy technology

The device operation principle is that optical radiation is used to examine human finger tissues for the purpose of getting diagnostic information of blood biochemistry based on the reflected (diffused) light. Value of the registered signal depends both on the absorption coefficient and on the stray light factor of the blood perfused tissue. The major contribution to absorption is made by water (H2O), protein, lipids, glucose and different types of hemoglobin (in particular, oxy- and deoxyhemoglobin), skin melanin. The device calculates blood sugar level based on the measurement of radiation in the visible-light spectrum on several glucose absorption peaks minimizing influence of water and melanin.

The device is an optical sensor of weight not more than 180 g. It can be both autonomous and connected via USB or Bluetooth to computers, smart phones, tablets and other mobile devices (including under the system designed for remote screening of the blood sugar level and organization of telecommunication interaction between the patients and doctors).

The key advantages of the device comparing to the other developed non-invasive glucose meters are: measuring accuracy that doesn't depend on the skin properties (transpiration, pigmentation), no need to make calibration by invasive methods, its low cost, no side effects such as skin irritation, and it small size.

According to the World Health Organization, quantity of diabetics increases twice per every 12 years. As of January 1, 2014 about 4 million diabetics have been registered in Russia and 382 million - all over the world. In 2014, the Russian market of blood glucose meters and consumables amounted to about $113 million, the world market to $14 billion.

Investment received from the Fund is expected to be spent for development of the calibrating device, pre-clinic and clinic trials of the prototype including for extreme blood sugar values, making integration in the mobile systems.

Development Director of KSI Venture Kirill Volynchik comments: "Multiple attempts to create reliable non-invasive alternative to the traditional glucose meters haven't yet resulted in a commercially successful device and its implementation in the global clinical practice. First of all it is related to insufficient accuracy and reliability on non-invasive measurements despite the variety of the physical methods used in development. We expect that the engineering and technical solution of the Brain Bit team will overcome the above obstacles and will significantly improve quality of life of numerous diabetic patients both in Russia and in other countries."

General Director of "Brain Bit" Edward Kryzhanovsky: "Until recently, we have had a working prototype of the non-invasive glucose meter. However, the researched range of the blood sugar levels wasn't wide enough. For the full-featured technology development we had, first of all, to extend accuracy of the device to extreme values, especially to hypoglycemia sector. It requires heavy expenses, and for the purpose of attracting investment in development, we presented it for examination to investors and specialists of the BiotechMed track of the GenerationS federal technology start-up accelerator conducted by RVC".

About KSI Ventures LLC

KSI Ventures LLC is a Russian investment company specialized in investment in the live system seed projects and in micro-financing and acceleration of the promising projects. It is a participant of the Biopharmaceutical cluster "Severnyi". Since 2014, KSI Ventures has invested in 15 start-ups, and starting from 2015 it is a general partner of the Fund for seed investments in the field of living systems that was established in cooperation with RVC Seed Fund in the form of investment partnership.

About RVC Seed Fund

The Fund was set up on October 22, 2009 as a part of realization of the Basic strategy provisions of RVC OJSC. The Fund includes RVC OJSC (99%) and the Foundation for Assistance to Small Innovative Enterprises in Science and Technology (1%). The Fund is focused on investing in the Russian innovative companies with high growth potential in domestic and foreign innovation and technology markets. Capital under Fund's management – 2 billion rubles.