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Allez Health Raises $60M for CGM Biosensor

Allez Health Raises $60M for CGM Biosensor

The California company becomes the latest tech firm to score funding for continuous glucose monitoring, an emerging health and wellness practice

Allez Health has raised $60 million in a Series A for its continuous glucose monitoring (CGM) biosensor platform for connected digital health platforms.

The California-based biosensor company, formerly known as Zense-Life Inc., plans to use the funds to expand its manufacturing operations and accelerate growth as it prepares for trials and regulatory approval filings.

While details regarding Allez Health’s sensor are scant, the company says it intends to disrupt the current cost barrier consumers face while delivering enhanced performance and user experience. 

The company’s executive team counts two Dexcom experts as its chief technology and chief science officers  — Robert Book, the lead inventor of Dexcom G4, a CGM monitor and Ted Zhang, lead development of Dexcom G4 sensor membrane. Dexcom scored a win earlier this year as the U.S. Food and Drug Administration (FDA) cleared its Stelo CGM biosensor system for over-the-counter purchases by people with diabetes and non-diabetics alike.

“We believe that person-centric health is critical for optimal health solutions,” Allez Health co-founder and CEO Leif Bowman said. “We aim to bring to market a sensor that combines access, affordability and reliable performance because when it comes to an individual’s health, no one should have to choose between price and performance.”

Korean In-Vitro Diagnostics company Osang Healthcare led the round, which included participation from existing investors. 

CGM Funding Wave

Investors are certainly bullish on longevity and preventative-health supporting devices; CGMs have experienced a flurry of investments as of late, and they could be poised to become the ultimate next-gen wearable.

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Allez Health joins San Diego-based Biolinq, which closed a $58 million financing round in May and is also seeking FDA approval for its upper-arm wearable, which uses tiny electrochemical sensors to measure glucose levels beneath the skin’s surface. Biolinq uses a color-changing interface so users can quickly glance at the wearable for health insight rather than checking an app or secondary device.

Ultrahuman, which raised $35 million earlier this year to advance its health-monitoring suite that includes a habit-tracking ring, a CGM and a home-health device, is also behind ‘Blood Vision,’ a blood test that correlates sleep changes, resting heart rate, HRV and movement trends with markers in the blood. The test gives users insight into the connection between lifestyle habits and their blood marker results, allowing them to track progress over time.  

BoydSense, a French startup which makes a device that allows diabetics and pre-diabetics to check their blood glucose levels by breathing into a gadget that syncs with a smartphone, secured $7.5 million to advance clinical studies last month.

With the growing prevalence of CGMs for fitness and wellness enthusiasts and athletes looking to hack their way to ideal performance and recovery, even personal trainers are incorporating data from CGMs into their workout recommendations.

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