Wall Street Journal: Investors Put $58 Million Into Biolinq’s Push for Easier Glucose-Monitoring

Written by

Brian Gormley

Biolinq raises $65 million

Medical-technology company Biolinq has collected $58 million in new venture funding to compete in the market for glucose-monitoring devices, a sector on the upswing as the technology becomes a more commonly accepted way to manage diabetes.

Continuous glucose monitors, or CGMs, help diabetes patients track their blood sugar. The devices use an introducer needle to insert a sensor. The needle is then retracted, but the sensor stays in the skin for several days and is later replaced. Use of the monitors has jumped in recent years as the technology has grown more accurate and easier to use. Last year, the global market for CGMs was about $10 billion, according to Mike Kratky, senior research analyst, medical devices and technology at investment bank Leerink Partners.

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Biolinq raises $58M to support intradermal glucose sensor

Biolinq announced today that it completed $58 million financing to support the progression of its proprietary intradermal glucose sensor. Alpha Wave Ventures led the funding round. Niterra’s corporate venture capital fund jointly operated with Pegasus Tech Ventures also participated.

Biolinq: Less pain, $58m gain for tiny glucose sensor

In a sweet indication of an improving capital market for med-tech companies, Biolinq Inc. landed $58 million in bridge financing to support completion of the U.S. pivotal trial of its intradermal glucose sensor and submission to the U.S. FDA.

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Written by

Robert Barrie