Alpha Wave Ventures led the funding round. Niterra’s corporate venture capital fund jointly operated with Pegasus Tech Ventures also participated. Other contributors included existing investors RiverVest Venture Partners, AXA IM Alts, Global Health Investment Corporation, Aphelion Capital, Senvest Management, Features Capital and Taisho Pharmaceutical.
San Diego-based Biolinq plans to use the funds to support the completion of a U.S. pivotal clinical trial of its glucose sensor this year. Funds may also go toward a subsequent FDA submission.
Biolinq designed its wearable patch device for simplicity. It uses an array of tiny electrochemical sensors to measure glucose levels from the intradermal space just below the surface of the skin. The technology combines glucose information with relative levels of activity in one device.
Placed on the upper forearm, the patch incorporates an intuitive display on the device. It informs users when glucose levels stand within a target range and when they go beyond a healthy range. The company designed its sensors on a silicon chip for redundancy, reliability and multi-analyte capabilities.
Biolinq’s sensor remains an investigational device, not yet cleared or approved by the FDA or any other regulatory authority.
“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.”
