- Sava Technologies secured £27 mn in Series B financing, with Ascensia leading the investment round.
- Ascensia will become Sava’s commercialization and distribution partner, initially in Europe, supporting the launch of its next-generation continuous glucose monitoring technology.
- Sava plans a pivotal clinical study in 2026 and is seeking CE approval for a glucose sensor with microsensors approximately 10 times shorter than conventional CGM filaments.
London-based health technology company Sava Technologies has raised £27 mn in Series B funding to advance the commercialization of its wearable glucose monitoring technology. The investment brings the company’s total funding to £51 mn.
The financing was led by Ascensia, a subsidiary of PHC Holdings Corporation, with participation from Balderton Capital, Norrsken VC, Simplyhealth Ventures, JamJar Investments, Pentland Ventures and other investors.
Alongside the funding, Sava appointed Ascensia as its commercialization and distribution partner, initially targeting European markets.
Founded in 2019, Sava has developed proprietary microsensor technology designed to measure glucose continuously and painlessly just beneath the skin. Although its initial application focuses on diabetes management, the platform is being developed to monitor additional biomarkers.
The company says the funding will support manufacturing expansion and the infrastructure required to bring its first commercial product to market.
Demand for continuous glucose monitoring (CGM) is growing as diabetes prevalence increases worldwide. Approximately 12 mn people currently use CGM devices, compared with an estimated 589 mn adults living with diabetes globally.
According to the International Diabetes Federation, the number of adults with diabetes could reach 853 mn by 2050.
The CGM market remains concentrated around two leading manufacturers, limiting product choice for patients, clinicians and distributors as demand increases.
Sava aims to address this concentration with microsensors approximately 10 times shorter than the filaments used in conventional continuous glucose monitors. According to the company, the shorter sensors reduce disruption to the skin while retaining access to interstitial fluid for glucose measurement.
Following technical development of its platform, Sava is preparing a pivotal clinical study in 2026 and targeting CE approval for non-adjunctive use.
Such authorization would allow patients to use the device for insulin dosing decisions without routine confirmation through fingerstick blood glucose testing, enabling it to replace rather than merely supplement conventional monitoring.
Subject to regulatory approval, Ascensia will manage the commercial launch, beginning in Europe.
Ascensia, part of PHC Group, operates an established diabetes care business that includes the CONTOUR blood glucose monitoring portfolio. Its products are distributed in more than 90 countries, and the company maintains direct commercial operations in 29 markets.
Its distribution network and relationships with healthcare professionals and payers are expected to support Sava’s market entry.
“Microsensor technology has the potential to transform the day-to-day monitoring experience for people with diabetes,” said Peter Bodlund, CEO of Ascensia.
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.
Peter Bodlund, CEO of Ascensia
Bodlund said the agreement would also help Ascensia broaden its diabetes technology portfolio.
Renato Circi, co-founder and co-CEO of Sava, said the partnership represents an important stage in the company’s transition toward commercial operations.
Continuous monitoring has been held back by the same legacy technology. This is about to change. We’re thrilled to be partnering with Ascensia, a global powerhouse in the space, to deliver, as a first step, something radically better to millions of people with diabetes.
Renato Circi, co-founder and co-CEO of Sava
Sava’s next milestones will be completing its pivotal clinical study, securing regulatory authorization and scaling manufacturing ahead of the planned European launch.
