Biolinq Raises $58 Million to Advance Wearable Biosensors Through Pivotal Trial for Metabolic Health Using Precision Microsensor Technology

04 Apr 2024
www.biospace.com
Biosensor platform leverages silicon semiconductor manufacturing for scale. Technology designed to provide a better view of metabolic health by combining glucose information with context around activities of daily living in one device. $58 million in funding led by Alpha Wave Ventures. SAN DIEGO--(BUSINESS WIRE)-- Biolinq Incorporated, a healthcare technology company pioneering precision multi-analyte biosensors to improve metabolic health, today announced the completion of $58 million in financing led by Alpha Wave Ventures, with participation from Niterra’s corporate venture capital fund jointly operated 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. J.P. Morgan served as placement agent to Biolinq in connection with the financing. This press release features multimedia. View the full release here: Biolinq sensors on a silicon wafer (Photo: Business Wire) The financing will support completion of a U.S. pivotal clinical trial this year, evaluating Biolinq’s proprietary intradermal glucose sensor, and subsequent FDA submission. 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. “Our technology approach enables access to a coveted, metabolically active compartment of the skin for biosensing without the use of introducer needles or bleeding,” said Rich Yang, CEO, Biolinq. “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.” 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. “Companies that disrupt entire industries often don’t originate from a single discipline,” said Rick Gerson, Chairman of Alpha Wave Global. “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.” “Biolinq's technology enables a new era for self-monitoring, with a product platform designed to make continuous sensing simple and more accessible,” said Dan Bradbury, Chairman, Biolinq. “We have a meaningful opportunity to transform care delivery and enable healthier living by opening up a new frontier in continuous sensing.” Biolinq’s intradermal glucose sensor is an investigational device that is not yet cleared or approved by the FDA or any other regulatory authority. About Biolinq Biolinq is a healthcare technology company pioneering precision multi-analyte wearable sensors to improve metabolic health. The company’s biosensor platform is designed to inform and inspire with unparalleled simplicity to support healthier living. With microsensors that reside just below the skin's surface, Biolinq is redefining the future of continuous small molecule biosensing. The company is headquartered in San Diego, CA. For more information, please visit . About Alpha Wave Alpha Wave is a global investment company with three main verticals: private equity, private credit, and public markets. It is led by Rick Gerson, Navroz Udwadia, and Ryan Khoury. Its flagship global private equity fund, Alpha Wave Ventures, aims to invest in best-in-class growth-stage companies and endeavors to be helpful long-term partners to the founders and management teams. Alpha Wave has offices in New York, Miami, London, Monaco, Madrid, Abu Dhabi, Tel Aviv, Bangalore, and Sydney. For more information, please visit . View source version on businesswire.com: Contacts Media Kimberly Ha KKH Advisors 917-291-5744 kimberly.ha@kkhadvisors.com Source: Biolinq Incorporated Smart Multimedia Gallery Photo Biolinq sensors on a silicon wafer (Photo: Business Wire) Photo Biolinq glucose sensor (Photo: Business Wire) Logo View this news release and multimedia online at:
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