Intuity Medical, which makes an automated self-contained blood glucose monitor, filed on Friday with the SEC to raise up to $75 million in an initial public offering.
Intuity is a commercial-stage medical technology and digital health company focused on developing comprehensive solutions to improve the health and quality of life of people with diabetes. Its first commercial product, the POGO Automatic Blood Glucose Monitoring System (POGO Automatic) is an FDA-cleared, automated, self-contained handheld monitor that enables patients to accurately measure blood glucose levels. In February 2020, the company initiated a limited commercial launch of POGO Automatic through its online POGO Store. It recently launched its HCP-Rx sales channel in 20 territories in August 2021, and its POGO Automatic Monitor and 10-test Cartridges became available upon request at Walgreens through its distribution agreement with AmerisourceBergen. It currently expects POGO Automatic Monitor and 10-test Cartridges to become available upon request at CVS in the 4Q21 through its distribution agreement with Cardinal Health.
The Fremont, CA-based company was founded in 2002 and plans to list on the Nasdaq under the symbol POGO. Intuity Medical filed confidentially on June 4, 2021. Goldman Sachs, Jefferies, Piper Sandler, and Raymond James are the joint bookrunners on the deal. No pricing terms were disclosed.
