Biolinq, a well being know-how firm growing precision multi-analyte wearable biosensors for metabolic well being, introduced it secured $100 million in Collection C funding.
Alpha Wave Ventures led the spherical with participation from current traders AXA IM Alts, M Ventures, LifeSci Enterprise Companions, RiverVest Enterprise Companions, Hikma Ventures, Taisho Pharmaceutical, Options Capital and Aphelion Capital.
WHAT IT DOES
Biolinq presents a wearable patch that evaluates glucose ranges and supplies insights into metabolic well being for people with sort 2 diabetes who aren’t on insulin.
The patch makes use of small electrochemical sensors to measure glucose ranges from the intradermal area simply beneath the pores and skin’s floor.
The California-based firm’s glucose sensor is an investigational machine that has not been cleared or authorised by the FDA.
“This financing will bolster Biolinq’s business readiness efforts whereas we pursue regulatory approval for the primary intradermal glucose sensor that comes with exercise and sleep info right into a single wearable machine,” Wealthy Yang, CEO of Biolinq, mentioned in an announcement.
“Our crew has spent the final decade growing a biosensor platform designed to encourage more healthy dwelling by offering context round an individual’s metabolic well being.”
MARKET SNAPSHOT
Final 12 months, Biolinq secured $58 million in financing, which the corporate mentioned it could use for FDA submission and to carry out a medical 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 funding in 2017.
One other firm within the glucose monitoring area is Allez Well being, which presents a CGM biosensor platform that makes use of sensor know-how to enhance a affected person’s efficiency by analyzing datasets throughout varied well being afflictions. Final 12 months, the corporate secured $60 million in Collection A+ financing.
