Senseonics gets $10 million senior secured loan from Oxford Finance

By Lisa Kerner

Charlotte, N.C., Aug. 19 – Senseonics, Inc. closed a $10 million senior secured term loan agreement with Oxford Finance LLC.

Proceeds of the loan will be used to fund the ongoing development of an implantable continuous glucose monitoring system for people with diabetes, according to a company news release.

“This new credit facility follows Senseonics’ $20 million private equity financing from earlier this summer that will better position us to complete our product development program, including the European and U.S. pivotal trials for regulatory submission and approval,” Senseonics chief executive officer Tim Goodnow said in the news release.

Senseonics (formerly Sensors for Medicine and Science, Inc.) is a medical device company based in Germantown, Md.

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