Biolinq has raised $58m in a financing round to support an ongoing pivotal trial investigating its wearable, non-invasive glucose sensor patch.
Biolinq’s CEO Richard Yang told Medical Device Network: “The pivotal study started in March 2024 and we plan to file for US Food and Drug Administration (FDA) clearance this year.”
The funding was led by US investment company Alpha Wave Ventures. The cash adds to a previous $100m raised in a Series B round in 2021.
The glucose-monitoring device sector is growing rapidly as the technology that helps manage the disease becomes more accessible. Continuous glucose monitors (CGMs) are a category of diabetes medical devices that have seen much technological advancement over the past decade. They are wearable devices that use a microneedle inserted into the skin to measure glucose levels in real time. The data is then transmitted to a linked handset or mobile phone.
The global CGM sensor market is expected to grow to more than $5bn in 2033, up from $3.5bn in 2023, according to analysis by GlobalData.
Full article here: https://www.medicaldevice-network.com/news/biolinq-raises-58m-for-glucose-microsensor-pivotal-trial/
