With new innovations in medical technology rolling out on a daily basis, it’s not always clear which ones will have real staying power. BioIntelliSense, however, has developed a suite of remote monitoring technologies expressly designed to stick around—both literally and figuratively.
Since emerging from stealth mode less than two years ago, the Denver-based startup has unveiled two adhesive wearable devices for monitoring vital signs and health symptoms, as well as an accompanying analytics platform to compile those collected data into a complete picture of each wearer’s health.
In that time, BioIntelliSense also accrued $25 million through a series A funding round spanning two tranches, with investors including the company’s longstanding partner UCHealth and kidney dialysis services provider Fresenius Medical Care North America.
Now, that tally has nearly tripled, thanks to a newly closed oversubscribed series B totaling $45 million. This time around, all of BioIntelliSense’s past investors chipped in, as well as newcomers such as Philips’ health tech-focused venture funding arm and 7wire Technology Partners, among a handful of others.
The financing was led by United Arab Emirates-based Chimera Investments, part of Abu Dhabi’s Royal Group conglomerate.
It’ll be used to expand BioIntelliSense’s offerings in both wearable continuous monitoring devices and in the software services designed to analyze the information collected by those devices.
“We proudly launched our Data-as-a-Service clinical intelligence platform, along with our flagship FDA-cleared BioSticker medical device, in January 2020. This industry-first multi-parameter wearable device and data services for continuous vital sign monitoring paved the way for the rapid acceleration and commercial launch of the BioButton health screening solution to address the COVID-19 pandemic and remote care,” said CEO James Mault.
“With this strong financial support, the BioIntelliSense team will continue to innovate and commercialize its growing portfolio of medical-grade wearables and data services across care settings, while making a profound impact on the delivery of personalized care, globally,” he continued.
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The BioSticker single-use device is meant to be worn on the upper left chest for up to 30 days. Once in place, it gathers a wealth of data about the wearer’s vital signs, movement and health symptoms, including respiratory and heart rate, body temperature, sleep status, activity levels and gait analysis, and symptomatic events like vomiting and coughing.
Meanwhile, the BioButton, which debuted last summer, lasts for up to 90 days and was launched amid the COVID-19 pandemic to help support schools’ and offices’ reopening efforts.
Both devices transmit their collected data to the BioIntelliSense software platform. The system is equipped with advanced algorithms that analyze the data to assess each patient’s health trends over time and to detect potential illnesses and complications as early as possible.