BASEL, Switzerland — Ascensia Diabetes Care, a global diabetes care company and subsidiary of PHC Holdings Corporation (TYO 6523), today announced a strategic partnership with venture-backed health technology startup Sava Technologies to support the introduction and future commercialization of its innovative wearable microsensor. The partnership comprises an exclusive commercialization and distribution agreement, initially in Europe, and a concurrent financing agreement.
Under this agreement, Ascensia has been appointed the exclusive distribution partner for Sava’s microsensor technology currently under development. The technology is being designed to continuously monitor relevant biomarkers and molecules, starting with glucose, just beneath the skin. Compared to traditional continuous glucose monitors (CGMs) on the market, Sava’s microsensor technology will offer a minimally invasive approach to glucose monitoring while providing additional insights to users.
Sava is planning for a pivotal clinical study for its CGM technology this year and aims to obtain CE approval and launch the microsensor within the next 18 to 24 months for non-adjunctive use. This would allow insulin dosing decisions without routine blood glucose monitoring confirmation. The companies plan for the CGM to be available through retail channels and under established reimbursement structures, which aligns with the go-to-market approach of Ascensia’s core business in blood glucose monitoring. Subject to regulatory approval, Ascensia plans to begin distribution in Europe, where both companies are headquartered.
Ascensia led the Series B financing round and has made a strategic equity investment in Sava. The long-term potential of Sava’s microsensor technology goes beyond glucose and can open the door to new ways of monitoring health and disease. This approach to using precision technology to create more personalized approaches to healthcare supports the vision of Ascensia’s parent company, PHC Holdings Corporation, which is known collectively with its subsidiaries as PHC Group.
Peter Bodlund, Chief Executive Officer of Ascensia, commented: “Microsensors have the potential to transform the day-to-day monitoring experience for people with diabetes. By bringing together Sava’s innovative technology with Ascensia’s deep diabetes expertise, strong reputation and commercial capabilities, we have an exciting opportunity to address important unmet needs in diabetes care. This is an exciting step for Ascensia as we continue to broaden our portfolio and pursue our ambition to simplify and improve life for people with diabetes.”
Rafaël Michali, Co-Founder and Co-CEO of Sava, commented: “Ascensia has spent decades earning the trust of people with diabetes and the clinicians who support them. Their strong global commercial organization, combined with our novel microsensor platform, gives us a route to a different monitoring experience at the scale this challenge demands. This partnership is the first step towards bringing that technology to the millions of people who need it.”
