The funding announcement was made earlier this month (Nov. 2).
Biolinq’s wearable patch, comprised of several independent, miniature biosensors, is about 25 times smaller than conventional glucose sensors. The coin-sized patch incorporates a microarray of independent electrochemical biosensors designed to measure the amount of glucose found between skin cells instead of tapping directly into the bloodstream.
A Needle Free Option
Biolinq’s unique approach in defining a new, personalized user experience includes needle-free sensor application, multiplexed sensing capabilities and immediate biosensor feedback with a novel user interface on its compact wearable patch designed to simplify diabetes management.
Early feasibility studies have demonstrated the capability of Biolinq’s microarray patch to track glucose levels continuously for up to seven days in people with diabetes.
The record-to-date private capital raise in the continuous glucose monitoring space includes participation from T&W Medical, AXA IM Alts, Global Health Investment Corporation, Ascensia Diabetes Care, Longevity Vision Fund, Falcon Edge Capital, Aphelion Capital, M Ventures, Hikma Ventures, Senvest, The Broe Group, Taisho Pharmaceutical, Cirrus Logic, EOFlow, Able Partners and the JDRF T1D Fund.
‘A New Generation’ of Products
“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,” said Rich Yang, Biolinq’s CEO. “We’re grateful to RiverVest and our Biolinq co-founders, Jared Tangney, Ph.D., and Joshua Windmiller, Ph.D., for supporting and leading this important mission.”
“We are pleased to be catalyzing this next stage of development for Biolinq’s novel biosensing applications,” said Nancy Hong, Ph.D., Managing Director at RiverVest Venture Partners. “Biolinq is a genuine game-changer – with a product platform designed to make continuous sensing simple and more accessible. The investment very much aligns with our goals to address unmet medical needs and support amazing entrepreneurs through science, strategy and innovation.”
“We are proud to invest in Biolinq’s innovative bio-wearable multi-analyte platform that addresses major public health issues worldwide, starting with diabetes,” said Zina Affas Besse, Ph.D., managing partner, advising AXA IM Alts and Global Health Investment Corporation. “We look forward to supporting the company through the upcoming key clinical, regulatory, manufacturing and commercialization milestones, delivering global tangible impact alongside the potential for attractive financial returns.”
UC San Diego Roots
Biolinq was founded in 2012 by Tangney and Windmiller, both Ph.D. grads from UC San Diego. The duo originally named their company Electrozyme and started off building printed electrochemical sensors that detected biomarkers in sweat for the wearable fitness market before shifting gears to focus on continuous glucose monitoring.
CEO: Rich Yang
Headquarters: San Diego
Notable: NBA team owner and Shark Tank star Mark Cuban was an early investor in the company