Allez Health, a cutting-edge biosensor company specializing in continuous glucose monitoring (CGM), has secured $60 million in Series A+ financing. This strategic investment, led by Osang Healthcare, will fuel advancements in clinical development, regulatory approvals, and manufacturing capabilities.

Allez Health’s innovative CGM platform aims to revolutionize diabetes management. Its advanced sensor technology promises enhanced performance at an affordable cost, addressing the unmet needs of millions worldwide.

Since its inception, Allez Health has achieved significant milestones. Seven patents have been issued, with over 40 applications pending. Over 80 clinical studies involving 1,500 users have been conducted, including a pivotal study with 120 insulin users.

Leif Bowman, CEO of Allez Health, indicated that person-centric health is crucial for effective healthcare solutions and that they strive to market a sensor that empowers individuals with access, affordability, and reliable performance.

Osang Healthcare CEO Dr. Chulhun Kang expressed that they were captivated by Allez Health’s progress and are eager to forge a partnership and that their technological prowess and manufacturing and distribution capabilities will provide broader access to life-changing CGM technology.

Allez Health’s goal is to accelerate its journey toward commercialization in global markets, subject to regulatory approvals and capital availability. The company’s commitment to affordable, high-quality CGM solutions aims to transform the diabetes management space and the broader wellness industry.

Source link: http://www.businesswire.com/news/home/20240522816000/en/Allez-Health-Announces-60-Million-Capital-Raise

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Ferry Darma
Ferry Darma is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.