Medical device company Biolinq has secured a $100m in Series B financing for its micro-array of biosensors designed for continuous glucose monitoring.
Biolinq is involved in the development of a wearable biosensor platform to measure biomarkers for the management of multiple clinical conditions, including diabetes.
Led by RiverVest Venture Partners, the Series B financing round witnessed participation from T&W Medical, AXA IM Alts, Global Health Investment, Ascensia Diabetes Care, Longevity Vision Fund, Falcon Edge Capital, Aphelion Capital, M Ventures, and Hikma Ventures, among others.
Biolinq CEO Rich Yang said: “We now have an opportunity to expand the sensing category and deliver a new generation of sensing capabilities that can reach millions of lives in the diabetes community and beyond.
“We’re grateful to RiverVest and our Biolinq Co-Founders, Jared Tangney, PhD, and Joshua Windmiller, PhD, for supporting and leading this important mission.”
The company will use the funds to support the development of world’s smallest microarray of sensors for continuous glucose monitoring.
Leveraging capabilities from the semiconductor industry, the micro-array of biosensors were developed for the measurement of interstitial fluid glucose levels just under the surface of the skin.
The wearable patch consists of various independent and miniature biosensors, which facilitate redundant measurements of target analytes.
Biolinq’s approach comprises needle-free sensor application and multiplexed sensing capabilities, as well as immediate biosensor feedback with a novel user interface on its compact wearable patch to simplify diabetes management and future consumer health and wellness applications.
According to the company, early feasibility studies have shown the potential of Biolinq’s microarray patch to track glucose levels continuously for up to seven days in diabetes people.
