A Minneapolis direct-to-consumer medical device and wellness management company is developing a product that could potentially support millions of Americans dealing with diabetes.
AmVentureX is using $1 million in fresh investor capital to develop a testing and tracking tool that would display data regarding a person's glucose levels. The device would need tiny blood samples from a user and would be used to inform a person how foods and fasting affect their blood glucose levels.
The company is awaiting Food and Drug Administration clearance for its glucose biometer, which would have a dual function with its platform used for tracking and testing ketone levels in a person's body. That testing platform, called KetoCoach, is designed for those on ketogenic diets who want to see how their body is responding to the diet over time.
The testing kit integrates with the company's smartphone app called FastCoach, a virtual fitness class and dieting community platform that allow users to track their fasting periods and energy levels after workouts or meals, along with ketones and glucose.
About 34 million Americans are living with diabetes, and another 88 million with prediabetes, according to the American Diabetes Association.
"We have a really unique opportunity to approach the diabetic market in a way that's often overlooked," said company founder Matt Payne.
The dual biometer would be a finger prick, similar to the existing ketone biometer, Payne said. As a person uses the new glucose management device, the goal is they'll be able to see how different foods, such as artificial sweeteners, affect their glucose levels as well as ketones, Payne said.
"Our approach is to build a platform to make living with diabetes simple," he said.
