Could Biolinq ’s Patch Change the Game For CGMs?

Biolinq has a plan to redefine continuous glucose monitoring (CGM) and investors are supporting it. The San Diego-based just announced it raised an additional $4.75 million in a series A round to help it get its CGM patch through clinical trials. The latest tranche was led by the JDRF T1D Fund, Aphelion Capital and LifeSci Venture Partners. Previously, Biolinq had closed on $10 million in the round – bringing the total financing amount to nearly $15 million. The funding round was no easy task, said Jared Tangney, Biolinq’s CEO. “There have been a lot of investors that have been burned with diabetes technology that hasn’t panned out,” Tangney told MD+DI. “It was a bit of a challenge overcoming that. But once we got to the point where we had some data showing that the sensors worked; our approach was very viable; and that we had started to build a Rockstar team around this - it started to give investors comfort.” The company's first product is designed to allow patients with diabetes to monitor their blood glucose levels without the pain and hassle of traditional CGM systems, which often involve frequent needle pricks. “Our approach to CGM is definitely very different [from] the existing sensors on the market, like Dexcom, Medtronic, or Abbott, Tangney said. “They’re all good technologies, but they&ac...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news