BOYDSense raises €7m in a capital increase to further develop its non-invasive glucose monitoring device

  • Financial means to take further steps towards market launch
  • Device potential confirmed by the clinical study conducted in 2023 with Toulouse University Hospital
  • Entry of 3 new investors (Swiss Diabetes Venture Fund, Bioserenity and the European Innovation Council Fund) alongside existing investors (Alpha Mos, Sweet Ventures, Ambrosia Investments and Jolt Capital)

BOYDSense, a medical device company developing a platform that makes health monitoring simple and pain free, powered by breath, announces the completion of a 7-million-euro capital increase. BOYDSense thus acquires the means to accelerate the development of its non-invasive glucose monitoring device for people living with diabetes and pre-diabetes.

This new step is in line with BOYDSense’s development plan and follows the conclusion of the latest clinical study finished in 2023 in partnership with Toulouse University Hospital. By meeting the objectives set, this study has confirmed the potential of this radically innovative breath glucose measurement platform.

The funds raised will enable the company to launch new clinical studies, put in place the quality procedures needed to obtain the certifications required – specifically ISO 13485 – for future marketing authorization, achieve further miniaturization and recruit key positions.

This financing round is led by the Swiss Diabetes Venture Fund and Bioserenity, with the participation of the European Innovation Council Fund. Jolt Capital and Ambrosia Investments are also participating in the transaction through the conversion of convertible bonds subscribed in 2023.

“These new investors bring BOYDSense both significant financial resources and valuable new skills and expertise. These complement the knowhow and immense contribution of the BOYDSense team, whom I would like to congratulate on all the steps we have already taken.” says Ben Delhey, CEO of BOYDSense.

Craig Cooper, Investment Director of the Swiss Diabetes Venture Fund concludes: “We see huge potential for breath glucose monitoring and BOYDSense is one of the leading companies in this space. They have a great technology, and the initial science looks very promising. We are excited to co-lead this round, and look forward to supporting the team on the journey ahead.”

Read the full press release

About BOYDSense

BOYDSense, Inc. is a medical technology company developing affordable, non-invasive tools for measuring critical biomarkers via exhaled breath. Its mission is to build the platform for anywhere, anytime biosignature capture and display to help consumers better manage their conditions. Breath-based metabolomics focuses on the capture, identification, and quantification of volatile organic compound (VOC) biomarker patterns in human breath and using them to diagnose and monitor chronic diseases, such as diabetes. The BOYDSense platform will also allow consumers and healthcare providers to use breath as a non-invasive medium to detect and monitor diseases like cancer, obesity, asthma, and others. BOYDSense’s first product under development, the g-Sense Breath Meter, is an affordable handheld device that allows people with diabetes to accurately measure blood glucose values through breath-based VOCs without the cost, pain, and social stigma associated with conventional fingerstick glucose testing. BOYDSense is an Alpha MOS company, the leader in volatile organic compound analysis.

For more information, please visit: www.boydsense.com.

Contacts:

info@boydsense.com

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