Hikma Pharmaceuticals Plc Hikma Ventures invests in Biolinq
November 27 2017 - 8:38AM
RNS Non-Regulatory
TIDMHIK
Hikma Pharmaceuticals Plc
27 November 2017
Hikma Ventures invests in Biolinq, the next generation
minimally-invasive biosensor technology company
London, 27 November 2017 - Hikma Pharmaceuticals PLC (Hikma)
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY), (rated Ba1 Moody's /
BB+ S&P, both stable) announces that its venture capital arm,
Hikma Ventures Limited (Hikma Ventures) invested in Biolinq, the
next generation minimally-invasive biosensor technology company, in
collaboration with M Ventures which led the $10 million series A
round of financing. Lana Ghanem, Managing Director of Hikma
Ventures and Edward Kliphuis, Investment Director of the New
Businesses fund at M Ventures will be joining the Biolinq Board of
Directors.
Biolinq is a digital health company with a unique,
wirelessly-enabled biosensor patch that is capable of continuously
monitoring multiple biomarkers. Biolinq's first commercial product,
a unique minimally-invasive technology will allow patients with
diabetes to continuously monitor their blood glucose without the
pain and hassle of traditional continuous glucose monitoring (CGM)
systems.
Lana Ghanem, Managing Director of Hikma Ventures, said,
"Diabetes is a chronic disease affecting millions of people
worldwide with a high prevalence in the Middle East and North
Africa. We enjoyed working alongside the M Ventures team on closing
this investment and we look forward to working with the Biolinq
team and our other co-investors to bring this technology to
patients."
"We are leading this round of investment with an excellent group
of co-investors, all with the same goal of making the convenient
and painless monitoring of multiple biomarkers a reality for
patients in need," said Edward Kliphuis, investment director of the
New Businesses fund at M Ventures. "As investors, we fully
recognize the value of Biolinq's skin-applied, minimally-invasive
electrochemical biosensor platform technology."
Jared Tangney, CEO of Biolinq, said, "This funding round will
fuel the growth of our technology platform. Our first product is
not just another CGM technology, but a platform we built from the
ground up with a focus on the end user. Our vision is to utilize
our novel manufacturing approach to achieve low-cost and high
uniformity, enabling factory calibration (no finger sticks) in a
nickel-sized patch. With our low cost-of-goods and ease-of-use, we
plan to increase access to CGM and simplify diabetes
management."
-- ENDS --
Enquiries
Hikma Pharmaceuticals PLC
Lana Ghanem, Managing Director, +962(0)6 5802900/ +962 79
Hikma Ventures 8579391
Susan Ringdal, VP Corporate +44 (0)20 7399 2760/ +44
Strategy and Investor Relations 7776 477050
FTI Consulting
Ben Atwell/ Brett Pollard +44 (0)20 3727 1000
About Hikma
Hikma Pharmaceuticals PLC is a multinational pharmaceutical
group focused on developing, manufacturing and marketing a broad
range of both branded and non-branded generic and in-licensed
products. Hikma's operations are conducted through three
businesses: 'Injectables,' 'Generics' and 'Branded,' based
primarily in the Middle East and North Africa (MENA) region, where
it is a market leader, the United States and Europe. In 2016, Hikma
achieved revenues of $1,950 million and profit attributable to
shareholders of $155 million.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the corporate
venture capital arm of Hikma Pharmaceuticals. Hikma Ventures
invests in global start-ups where Hikma's expertise can accelerate
revenue growth and enhance value creation by providing ventures
with access to the resources of a multinational pharmaceutical
company. For more information, visit www.hikmaventures.com
About M Ventures
Merck Ventures BV, Amsterdam, The Netherlands, a subsidiary of
Merck KGaA, Darmstadt, Germany, which operates as M Ventures in the
United States and Canada is the strategic, corporate venture
capital arm of Merck KGaA, Darmstadt, Germany. Its mandate is to
invest in innovative technologies and products with the potential
to significantly impact Merck KGaA, Darmstadt, Germany's core
business areas. We invest globally in transformational ideas driven
by great entrepreneurs. M Ventures takes an active role in its
portfolio companies and teams up with entrepreneurs and
co-investors to translate innovation towards commercial success For
more information, visit www.m-ventures.com
About Biolinq
Biolinq is a digital health company developing a skin-applied,
minimally-invasive electrochemical biosensor platform which
analyses biomarkers in the interstitial fluid to provide actionable
health information. Given the platform potential of the technology
and the unique ability to simultaneously measure multiple
biomarkers, the company aims to develop a pipeline of biomonitoring
products. Biolinq was founded in 2012 (as Electrozyme, LLC), and is
located in San Diego. For more information, visit
www.biolinq.me
This information is provided by RNS
The company news service from the London Stock Exchange
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