SAN DIEGO — A team of Pillsbury lawyers led by partner Mike Hird advised Biolinq Incorporated in the closing of a $100 million Series B financing round led by RiverVest Venture Partners. Biolinq is a medical device company developing a continuous glucose sensor with a novel integrated display on its wearable device.
Biolinq has developed a micro-array of biosensors to measure interstitial fluid glucose levels just under the surface of the skin, leveraging innovation from the semiconductor industry to miniaturize electrochemical sensors designed for precision manufacturing and significant scale. Biolinq’s wearable patch is comprised of several independent, miniature biosensors (about 25 times smaller than conventional glucose sensors) that enable redundant measurements of target analytes, an important foundation for sensor reliability and consistent real-time performance. 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 and future consumer health and wellness applications.
This record 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.
In addition to Hird, the Pillsbury team included partner Richard Blaylock, associate Alex Graham and senior legal analyst Rory O’Neill, all in San Diego.