BoydSense Raises $7.5M for Breathable Glucose Monitor
As demand soars for metabolic health, the race is on to see which company can develop the most easy-to-use continuous glucose monitor (CGM)
Monitoring your metabolic health, in a literal sense, could soon be as simple as breathing in and breathing out.
BoydSense, a French medical device startup, has raised an additional €7 million ($7.5 million) in funding for its Lassie prototype, which allows diabetics and pre-diabetics to check their blood glucose levels by breathing into the device and connecting it through their smartphone. After a few seconds and a simple exhale, accurate and easy-to-read results are displayed.
Key investors include the Swiss Diabetes Venture Fund and Bioserenity, with participation from the European Innovation Council Fund. Jolt Capital and Ambrosia Investments are also participating in the transaction by way of convertible bonds subscribed in 2023.
“These new investors bring BoydSense both significant financial resources and valuable new skills and expertise,” said Ben Delhey, the company’s CEO. “These complement the know-how and immense contribution of the BoydSense team, whom I would like to congratulate on all the steps we have already taken.”
BoydSense will use the new capital to feed into new clinical studies and establish the quality procedures required to obtain certifications needed for further marketing authorization. BoydSense also plans to make its device smaller and recruit key talent with the funding.
The funding gives BoydSense a boost as demand rises for continuous glucose monitors (GMCs) and other devices that measure metabolic health. Last month, the U.S. Food and Drug Administration (FDA) cleared Dexcom’s Stelo Glucose Biosensor System as the first over-the-counter CGM that can be used by diabetics and non-diabetics alike.
Biolinq, a San Diego-based brand, recently developed a glucose-monitoring wearable for the upper arm that uses tiny electrochemical sensors to measure glucose levels beneath the skin’s surface. The brand just closed a $58 million financing round as it seeks FDA approval.