Tandem Diabetes Care, an early stage medical device company focused on insulin pumps for diabetes, has completed a $52.3 million financing round it began in May, according to a regulatory filing.
The filing does not specify who invested in the round. Previous investors have included Domain Associates of La Jolla, TPG Biotech of San Francisco and Second Technology Capital Investors of Sun City, Ariz.
The 60-employee company, which set up operations in early 2008, did not reveal how it will use the proceeds. Spokeswoman Susan Morrison said the company was “deep in the process of researching and developing” a product, although she would not reveal further details. The company’s Web site indicates Tandem is making a wearable insulin pump, a market currently dominated by major device makers Medtronic and Johnson & Johnson.
The company’s board is made up of venture capitalists and is led by CEO Kim Blickenstaff, the former CEO of Biosite Inc. before the company was acquired by Inverness Medical Innovations for $1.8 billion in 2007.
Tandem filed its latest information with the Securities and Exchange Commission on Jan. 7.
— Heather Chambers