Participated · Series C · Apr 2025

Biolinq is a healthcare technology company developing precision intradermal biosensors to improve metabolic health. Its initial product is a wearable biosensor patch with an array of tiny electrochemical microsensors that measure glucose continuously just beneath the skin’s surface, providing real-time feedback via a color-changing indicator light on the upper forearm. The device is designed to combine glucose monitoring with activity and sleep information to support people with Type 2 diabetes not on insulin. Biolinq’s platform is positioned for future multi-analyte sensing capabilities and the company says it has spent the last decade developing the underlying technology. The company recently completed a US pivotal trial and submitted for regulatory review; its intradermal glucose sensor remains investigational and is not yet FDA cleared. A $100 million Series C will finance the company’s push from development toward commercial readiness as it pursues US regulatory approval; Biolinq is headquartered in San Diego. Biolinq develops a wearable patch that uses an array of tiny electrochemical microsensors placed in the intradermal space to measure glucose and relative activity from just beneath the skin surface. The device is designed for simplicity and user feedback, with an intuitive on-device display that notifies users when glucose is within or outside target ranges. Its sensor array is engineered for redundancy, reliability and multi-analyte capabilities without the use of introducer needles or bleeding. Biolinq describes the intradermal glucose sensor as investigational and not yet cleared or approved by the FDA. The company is headquartered in San Diego, CA. Proceeds from the completed financing will fund completion of a U.S. pivotal clinical trial this year and support a subsequent FDA submission. Biolinq is developing a wearable biosensor platform whose first product is a needle-free, intelligent continuous glucose sensor with a novel integrated display on the device. The device leverages semiconductor-industry innovation to miniaturize electrochemical sensors into a micro-array of miniature biosensors roughly 25 times smaller than conventional glucose sensors, enabling redundant measurements for reliability. Early feasibility studies demonstrated the microarray patch can track glucose continuously for up to seven days in people with diabetes. Biolinq’s approach includes multiplexed sensing capabilities and immediate biosensor feedback designed to simplify diabetes management and support future consumer health and wellness applications. The company is advancing clinical, regulatory, manufacturing and commercialization milestones to expand the sensing category. Financially, Biolinq completed a $100 million Series B financing, described as a record private capital raise in the continuous glucose monitoring space, with a broad syndicate of strategic and financial investors. Biolinq is developing a skin-applied, minimally-invasive electrochemical biosensor platform that analyzes interstitial fluid to provide actionable health information. Its first commercial product aims to let people with diabetes continuously monitor blood glucose without the pain and hassle of traditional continuous glucose monitoring systems. The platform is wirelessly enabled and designed to simultaneously measure multiple biomarkers, enabling a pipeline of biomonitoring products. Biolinq plans to use new financing to support growth of its technology platform and to fund additional clinical studies. The company completed its first clinical study in 2018 and reports promising initial clinical results. Biolinq was founded in 2012 and is located in San Diego. Biolinq develops a skin-applied, minimally-invasive electrochemical biosensor platform that analyzes biomarkers in interstitial fluid. Its wirelessly-enabled, nickel-sized biosensor patch is designed to continuously monitor multiple biomarkers and its first commercial product targets blood glucose monitoring without the pain and hassle of traditional CGM systems. The company emphasizes factory calibration (no finger sticks), low cost-of-goods, high manufacturing uniformity, and ease of use. Biolinq intends to leverage its novel manufacturing approach to increase access to CGM and simplify diabetes management. The platform’s ability to simultaneously measure multiple biomarkers supports plans to build a pipeline of additional biomonitoring products. Biolinq was founded in 2012 (as Electrozyme, LLC) and is located in San Diego.

Participated · Series C · Mar 2025

Laplace Interventional is a Minnesota-based medical device company developing a prosthetic transcatheter tricuspid valve delivered via a minimally invasive procedure to avoid open-heart surgery. The device is intended to improve quality of life for patients with tricuspid regurgitation. The company has completed an Early Feasibility Study (EFS) experience treating three patients (all discharged home within 1–2 days) and has enrolled 22 patients in the U.S. EFS and 25 patients globally. Laplace announced a $22M Series C financing to support completion of its U.S. and OUS feasibility studies and to work toward initiating a pivotal study. The company added Ned Scheetz of Aphelion Capital to its board as part of the financing announcement. The device remains in development and is not approved or cleared by the FDA or any other regulatory body. Laplace Interventional is a Minneapolis, MN–based medical device company developing a transcatheter prosthetic valve system to treat patients with tricuspid regurgitation. The device is designed to be delivered through patient vasculature, avoiding open‑heart surgery and aiming to increase life expectancy and improve quality of life for patients with TR. The technology is in an early stage of development and is not approved or cleared by the FDA or other regulatory bodies. The company intends to use the new capital to pursue first‑in‑human (FIH) and clinical feasibility evaluations of its valve system. Ramji Iyer is founder and CEO, and the company has recently added industry executives to its board, including Jenny Barba and Todd Mortier. Laplace Interventional is a Minnesota-based medical device company developing a transcatheter tricuspid valve technology. Its core product is a prosthetic valve designed for minimally invasive delivery that avoids open-heart surgery to treat tricuspid regurgitation. The company says the device aims to increase life expectancy and improve quality of life for patients with TR. Laplace recently closed a $7.9M Series A to fund progress toward preclinical milestones. Leadership added two directors to the board, including William Dai of ShangBay Capital, a participant in the round. The device remains in early-stage development and is not approved or cleared by the FDA or other regulatory bodies.

Participated · Equity · Jun 2024

Ocon Therapeutics is a women's health company developing, manufacturing, and commercializing 3D drug delivery systems based on its patented IUB (Intra-Uterine Ball) platform. Its validated 3D stent drug delivery frame, the IUB Ballerine, has demonstrated safety and usability in over 150,000 women. The company is advancing IUB SEAD and IUB PRIMA assets designed to address abnormal and heavy uterine bleeding. These assets aim to provide long-term hormonal and short-term non-hormonal treatment options. The company recently raised $10M in funding led by RH Capital and intends to use the proceeds to further enhance its ability to provide solutions for prevalent uterine pathologies. Ocon is led by CEO Keren Leshem and is based in Modiin, Israel. OCON Healthcare develops Ballerine®, a 3D spherical copper intrauterine contraceptive (IUB) designed to reduce endometrial irritation and lower rates of malposition and perforation versus current T‑shaped IUDs. The company also develops SEAD™, a point‑of‑care therapy for abnormal uterine bleeding and is advancing SEAD through Phase II clinical trials. Rhia Ventures' investment is intended to support OCON's US launch of Ballerine and to expand Phase II work on SEAD. OCON is Israeli‑based and positions its products as hormone‑free, non‑invasive alternatives to existing contraceptives. The financing comes from RH Capital Fund II, an impact venture fund focused on contraceptive innovation, maternal health, and unmet needs in women's reproductive health. Company leadership cites the investment, partnership, and network from Rhia Ventures as enabling continued product innovation and market entry efforts.