California-based Allez Health (formerly Zense-Life Inc.) announced it has secured $60 million in Series A+ funding.
The round was led by strategic investor Osang Healthcare Co., Ltd., with participation from existing investors.
What it does
Allez Health is a continuous glucose monitoring biosensor platform that uses sensor technology to improve patient performance by analyzing datasets across a range of health issues.
The funds will be used to support business operations and regulatory submissions, scale up manufacturing and accelerate clinical trials.
The company's co-founders and management team are made up of former Dexcom leaders.
Allez Health's CEO, Leif Bowman, previously served as senior director of marketing at Dexcom. The company's chief technology officer, Robert Boock, was the lead inventor of the Dexcom G4 CGM, and Allez Health's chief scientific officer, Ted Zhang, led the development of the Dexcom G4's sensor membrane.
“We believe that optimal health solutions require people to be at the center of health,” Bowman said in a statement. “We aim to bring to market sensors that are accessible, affordable and have reliable performance, because when it comes to their personal health, no one should have to choose between price and performance.”
Market Snapshot
In March, Dexcom received FDA clearance for its over-the-counter continuous glucose monitoring (CGM) solution, Stelo.
Available without a prescription, the wearable biosensor has a battery life of up to two weeks and is worn on the underside of the upper arm. The patch helps detect normal (euglycemic) and hypo- or hyperglycemic (dysglycemic) blood glucose levels.
In February, Kakao Healthcare launched the latest version of its AI-enabled mobile diabetes management app, PASTA (Personalized, Accessible, Supported, Tech-Enabled, Affordable). The app links to two CGM devices: CareSens Air from manufacturer i-SENS and G7 from Dexcom. The app also works with the Mallya smart cap for insulin pens.
