Biolinq closed a $100 million Series C funding round to advance its biosensor platform.
“This financing will bolster Biolinq’s commercial readiness efforts while we pursue regulatory approval for the first intradermal glucose sensor that incorporates activity and sleep information into a single wearable device,” Biolinq CEO Rich Yang said in a statement shared with Drug Delivery Business News ahead of the announcement. “Our team has spent the last decade developing a biosensor platform designed to inspire healthier living by providing context around a person’s metabolic health.”
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San Diego-based Biolinq — which announced its $58 million Series B round a year ago — has completed its pivotal trial and submitted its investigational technology to the FDA for regulatory review.
The company describes its initial product as “a wearable biosensor powered by an array of tiny electrochemical sensors that measure glucose levels continuously just beneath the skin’s surface.”
“Biolinq’s glucose sensor patch — placed on the upper forearm — features a color-changing indicator light, providing users with real-time feedback to stay informed about glucose excursions,” Biolinq continued. “The company’s first-generation glucose sensor is designed for ease of use and reliability leveraging a biosensing platform that enables future multi-analyte sensing capabilities.”
It’s the latest development from diabetes device developers that are working on type 2 technology.
Biolinq Chair Dan Bradbury said his company “is unlocking a new era of biosensing technology, making glucose information simpler and more accessible.”
“This technology has the potential to help restore metabolic health for millions of people living with type 2 diabetes not using insulin,” he continued.
The round was led by Alpha Wave Ventures, with participation from previous investors RiverVest Venture Partners, AXA IM Alts, LifeSci Venture Partners, M Ventures, Hikma Ventures, Aphelion Capital and Taisho Pharmaceutical.
“Biolinq has assembled world-class experts in biosensor technology, consumer electronics, and semiconductor manufacturing to redefine the biowearables category,,” Alpha Wave Global Chair Rick Gerson said in a statement shared with MassDevice. “With a highly differentiated product, Biolinq is well-positioned to expand the biosensor market.”
