US-based digital health technology developer Biolinq closed a $10m series A round today led by M Ventures, the corporate venturing arm of Merck.
Hikma Ventures, the investment division of pharmaceutical firm Hikma, also contributed funds, as did Grey Sky Venture Partners, Three Leaf Ventures, LifeSci Venture Partners and assorted individual investors.
Founded in 2012, Biolinq has developed a wirelessly-enabled biosensor patch. Its first product exploiting the technology is a minimally-invasive device that allows diabetes sufferers to continuously monitor their blood sugar levels.
The money will drive further development of the technology platform. Edward Kliphuis, investment director of the New Businesses fund at M Ventures, and Lana Ghanem, managing director of Hikma Ventures, will join Biolinq’s board of directors.
Kliphuis said: “We are leading this round of investment with an excellent group of co-investors, all with the same goal of making the convenient and painless monitoring of multiple biomarkers a reality for patients in need.
“As investors, we fully recognise the value of Biolinq’s skin-applied, minimally-invasive electrochemical biosensor platform technology.”