Participated · Series A · Oct 2022

Eyenuk develops AI-driven eye screening and predictive biomarker technologies for autonomous detection and risk assessment of vision- and life-threatening diseases. Its flagship EyeArt AI system, cleared by the FDA in 2020, has been used in over 200 locations across 18 countries (including 14 U.S. states) to screen more than 60,000 patients. The EyeArt system is reimbursed by Medicare in the US and holds regulatory approvals including CE Marking and a Health Canada license, plus approvals in multiple Latin American and Middle Eastern markets. Led by CEO and founder Kaushal Solanki, the company focuses on diabetic retinopathy, glaucoma, age-related macular degeneration, stroke risk, cardiovascular risk, and Alzheimer’s disease. Eyenuk intends to use new capital to expand its AI product platform with additional disease indications and advanced care coordination, and to accelerate global commercialization and adoption. Eyenuk develops AI medical technology and services focused on AI Eye Screening and AI Predictive Biomarkers for risk assessment and disease surveillance. Its core product, the EyeArt AI System, provides fully automated diabetic retinopathy screening—capturing retinal images, detecting DR according to international clinical standards, and delivering a PDF report in less than 30 seconds during a single office visit. The EyeArt system received FDA 510(k) clearance in 2020, is reimbursed by Medicare and other payors, has CE marking in the EU, and holds a Health Canada license; it has also been validated by the U.K. NHS. The system was developed with funding from the U.S. National Institutes of Health. Eyenuk intends to use the newly raised funds to accelerate commercialization of EyeArt and is planning to close a larger financing round in late 2021 to support long-term growth and innovation. The company is led by founder and CEO Kaushal Solanki, Ph.D., and President & CCO Frank Cheng, and is based in Los Angeles.

Participated · Series B · Nov 2021

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.