Biolinq has secured $100m in a Series C funding round to support the regulatory approval process in the US as it aims to launch its autonomous intradermal glucose sensor to the market.
The investment round was spearheaded by Alpha Wave Ventures and saw contributions from several current investors, including Features Capital, Hikma Ventures, and Taisho Pharmaceutical.
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Biolinq’s wearable biosensor utilises an array of minuscule electrochemical sensors to continuously monitor glucose levels underneath the surface of the skin.
The sensor patch, which is positioned on the upper forearm, features a colour-changing indicator light that offers real-time feedback on glucose levels.
Biolinq’s glucose sensor is tailored for easy usage and dependability, with an eye towards future enhancements that could enable the sensing of multiple analytes.
It is under investigation and yet to receive clearance or approval from the US Food and Drug Administration (FDA) or any other regulatory body.
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By GlobalDataBiolinq CEO Rich Yang said: “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.
“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.”
Headquartered in the US, the company is focused on precision multi-analyte wearable sensors that aim to enhance metabolic health.
The company noted that it has collaborated with bioengineering institutions and universities to create solutions on its platform.
Biolinq chairman Dan Bradbury said: “Biolinq 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.”
