California-based Allez Health, formerly Zense-Life, announced it secured $60 million in Series A+ financing.
The round was led by strategic investor Osang Healthcare, with participation from existing investors.
WHAT IT DOES
Allez Health is a continuous glucose monitoring biosensor platform that uses sensor technology to improve a patient’s performance by analyzing datasets across various health afflictions.
The funding will be used to support operations and regulatory approval filings, scale manufacturing and accelerate clinical trials.
The company’s cofounders and leadership team are made up of former Dexcom leaders.
Allez Health’s chief executive officer, Leif Bowman, was formerly senior director of marketing at Dexcom. Robert Boock, the company’s chief technology officer, was the lead inventor of Dexcom G4 CGM, and Ted Zhang, Allez Health’s chief science officer, led the development of Dexcom G4’s sensor membrane.
“We believe that person-centric health is critical for optimal health solutions,” Bowman said in a statement. “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.”
MARKET SNAPSHOT
Dexcom received clearance from the FDA in March for its over-the-counter continuous glucose monitoring (CGM) solution Stelo.
Available without a prescription, the wearable biosensor boasts a battery life of up to two weeks and adheres to the back of the upper arm. The patch aids in the detection of normal (euglycemic) and low or high (dysglycemic) glucose levels.
In February, Kakao Healthcare unveiled its latest version of an AI-enabled mobile diabetes management app called PASTA (Personalized, Accessible, Supportive, Tech-enabled, and Affordable). The app links to two CGM devices: CareSens Air by manufacturer i-SENS and Dexcom’s G7. The app also pairs with the Mallya smart cap for insulin pens.
