Biobeat Technologies has raised $50 million in a series B round to help boost the commercialization of its blood pressure sensor.
The medtech, which touts itself as the developer of the first FDA-cleared, 24-hour patch-worn device for the diagnosis and treatment of high blood pressure, saw the financing round being led by new investors Ally Bridge Group, OrbiMed Advisors and Elevage Medical, while also including participation from an unnamed “strategic investor,” according to a release.
The cash will be used to help U.S. sales activities for the company’s cuffless blood pressure sensor device, which was recently cleared by the FDA.
The traditional method of taking an accurate picture of blood pressure is for patients to wear a cuff for more than 24 hours. This cuff at specific times expands and contracts over the user’s arm, an experience that can be uncomfortable and disruptive, especially at night, leading to potentially low compliance and poor data.
Biobeat’s photoplethysmography sensor-based tech takes away the need for a cuff as its sensor is attached to the chest for 24 hours, like the tech a smartwatch uses on your wrist, taking continual measurements without causing discomfort.
When finished, the device can be disposed of, with the data sent directly and immediately to the patient’s electronic heath record.
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According to the Centers for Disease Control and Prevention, nearly half of U.S. adults have high blood pressure. Assessment and treatment require ongoing blood pressure checks in an outpatient setting.
Biobeat says it hopes to “revolutionize” this market with its device and move away from cuff-based tech, allowing patients to experience better sleep and enabling better compliance, the company argues.
“I am delighted to welcome world-class venture capital investors Ally Bridge, OrbiMed and Elevage to the Biobeat team,” Raymond W. Cohen, executive chairman of Biobeat, said in the release.
“We believe that Biobeat will have a profoundly positive impact on clinical utilization of ABPM, similar to what was experienced with ambulatory ECG monitoring once a patch-worn device became available,” Cohen added.
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Biobeat is not the only medtech hoping to get into this new, cuffless future. In July last year, Aktiia’s Hilo wristband won FDA clearance, with a launch planned in 2026.
The device, which is set up as a bracelet, is a longer-term solution that is worn continually.
