Biolinq Raises $58 Million to Advance Wearable Biosensors
Biolinq has raised $58 million in financing led by Alpha Wave Ventures to support the completion of a US pivotal clinical trial later this year, evaluating its proprietary intradermal glucose sensor, and subsequent FDA submission.
Also participating in the financing were Niterra’s corporate venture fund, operated in partnership with Pegasus Tech Ventures, and existing investors RiverVest Venture Partners, AXA IM Alts, Global Health Investment Corporation, Aphelion Capital, Senvest Management, Features Capital and Taisho Pharmaceutical.
Designed for simplicity, Biolinq’s wearable patch uses an array of tiny electrochemical sensors to measure glucose levels from the intradermal space just beneath the surface of the skin, combining glucose information with relative levels of activity in one device.
Biolinq’s wearable patch, placed on the upper forearm with a clear line of sight, incorporates an intuitive display on the device that informs users when glucose levels are within a target range and when glucose levels are elevated beyond a healthy range. Biolinq’s array of sensors on a silicon chip are designed for redundancy, reliability and multi-analyte capabilities.
Our technology approach enables access to a coveted, metabolically active compartment of the skin for biosensing without the use of introducer needles or bleeding. Over the past decade, our team has been pioneering a new biosensor platform designed to inform and inspire, with a mission to reach more people that are in need of simple solutions to improve metabolic health,” said Rich Yang, CEO of Biolinq.
Biolinq has attracted leading experts in biosensor development, consumer electronics design, proprietary materials science, software engineering and semiconductor manufacturing to build a new category of biowearables. Biolinq is well-positioned to enter the market with a differentiated solution for people living with diabetes,” said Rick Gerson, Chairman of Alpha Wave Global.
