Hikma invests in digital health firm Biolinq

Hikma invests in digital health firm Biolinq

9:10 AM, 28th November 2017
Hikma logo

LONDON, UK: Hikma Pharmaceuticals PLC (Hikma) said that its venture capital arm, Hikma Ventures Limited (Hikma Ventures) has invested in Biolinq, the next generation minimally-invasive biosensor technology company, in collaboration with M Ventures which led the $10 million series A round of financing.

Lana Ghanem, managing director of Hikma Ventures and Edward Kliphuis, investment director of the new businesses fund at M Ventures will be joining the Biolinq board of directors.

Biolinq is a digital health company with a unique, wirelessly-enabled biosensor patch that is capable of continuously monitoring multiple biomarkers. Biolinq’s first commercial product, a unique minimally-invasive technology will allow patients with diabetes to continuously monitor their blood glucose without the pain and hassle of traditional continuous glucose monitoring (CGM) systems.

“Diabetes is a chronic disease affecting millions of people worldwide with a high prevalence in the Middle East and North Africa. We enjoyed working alongside the M Ventures team on closing this investment and we look forward to working with the Biolinq team and our other co-investors to bring this technology to patients,” said Lana Ghanem.

“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 recognize the value of Biolinq’s skin-applied, minimally-invasive electrochemical biosensor platform technology,” said Edward Kliphuis.

“This funding round will fuel the growth of our technology platform. Our first product is not just another CGM technology, but a platform we built from the ground up with a focus on the end user. Our vision is to utilize our novel manufacturing approach to achieve low-cost and high uniformity, enabling factory calibration (no finger sticks) in a nickel-sized patch. With our low cost-of-goods and ease-of-use, we plan to increase access to CGM and simplify diabetes management,” added Jared Tangney, CEO of Biolinq.

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