Biosensor venture secures Series A+ financing to invest in operations, clinical development and commercialization endeavors
SAN DIEGO–(BUSINESS WIRE)–Allez Health Inc., formerly known as Zense-Life Inc., an emerging biosensor venture founded by proven experts in the continuous glucose monitoring (CGM) space, announced a $60 million Series A+ financing. The round was led by Korean in-vitro diagnostics company, Osang Healthcare Co., Ltd. as a strategic investor, with participation from existing investors. The new capital is expected to be used to accelerate growth towards pivotal trials, to support regulatory approval filings, and to scale manufacturing operations.
Allez Health is a pioneering CGM biosensor platform with novel sensor technology that is intended to disrupt today’s cost barrier while enhancing performance and user experience. Since its inception, Allez Health has accomplished several significant milestones including seven issued patents and over 40 pending patent applications, over 80 clinical studies aggregating more than 1,500 users, and a pivotal study in 120 insulin users. Having completed the pivotal study and having secured key strategic investment as well as select distribution and manufacturing arrangements, Allez Health expects to accelerate its progress toward commercialization in multiple global markets, assuming the timely receipt of the necessary regulatory approvals and the continued availability of capital.
“We believe that person-centric health is critical for optimal health solutions,” says Leif Bowman, co-founder and CEO at Allez Health. “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.”
“Since the founding of Allez Health, we have been impressed by their progress and are excited to officially forge a strong collaboration with them,” says Dr. Chulhun Kang, CEO of Osang Healthcare. “Their innovative design and technical advances, coupled with Osang’s world-class manufacturing capability and global reach, will bring meaningful access to world-class CGM technology for millions of people with diabetes as well as the broader wellness market.”
Allez Health, Inc. is an innovative smart biosensor company for connected digital health platforms. The Allez Health sensor is an investigational device that is not yet cleared or approved by the U.S. Food and Drug Administration or any other regulatory authority. For more information about Allez Health, visit www.allezhealth.com.
Contacts
Allez Health Investor Contact:
619-631-5114
IR@allezhealth.com
