Biolinq, a well being generation corporate creating precision multi-analyte wearable biosensors for metabolic well being, introduced it secured $100 million in Collection C investment.
Alpha Wave Ventures led the spherical with participation from present buyers AXA IM Alts, M Ventures, LifeSci Mission Companions, RiverVest Mission Companions, Hikma Ventures, Taisho Pharmaceutical, Options Capital and Aphelion Capital.
WHAT IT DOES
Biolinq provides a wearable patch that evaluates glucose ranges and offers insights into metabolic well being for people with kind 2 diabetes who aren’t on insulin.
The patch makes use of small electrochemical sensors to measure glucose ranges from the intradermal area simply underneath the outside’s floor.
The California-based corporate’s glucose sensor is an investigational tool that has now not been cleared or licensed by means of the FDA.
“This financing will bolster Biolinq’s business readiness efforts whilst we pursue regulatory popularity of the primary intradermal glucose sensor that accommodates job and sleep data right into a unmarried wearable tool,” Wealthy Yang, CEO of Biolinq, stated in a observation.
“Our staff has spent the decade creating a biosensor platform designed to encourage fitter residing by means of offering context round an individual’s metabolic well being.”
MARKET SNAPSHOT
Closing yr, Biolinq secured $58 million in financing, which the corporate stated it could use for FDA submission and to accomplish a scientific trial on its glucose sensor.
The corporate raised $4.75 million in prolonged Collection A financing in 2019 and secured $20 million in Collection A investment in 2017.
Some other corporate within the glucose tracking area is Allez Well being, which provides a CGM biosensor platform that makes use of sensor generation to enhance a affected person’s efficiency by means of inspecting datasets throughout quite a lot of well being afflictions. Closing yr, the corporate secured $60 million in Collection A+ financing.
