BOYDSense increases its capital by 7 million euros

Read the full article on the BOYDSense website here.

Medical device company BOYDSense has carried out a €7 million capital increase to support the development of its non-invasive glucose monitoring solutions. Joffe & Associés (Thomas Saltiel, Charlotte Viandaz and Rémi Rodriguez) advised BOYDSense and its historical investors, Jolt Capital and Ambrosia Investments Group, on this transaction.

Alpha MOS’s medical technology (‘medtech’) division closes a seven million euro capital increase, including 1.5 million euros from the conversion of convertible bonds, and 5.5 million euros in additional cash. The capital increase was carried out by a group of investors led by the Swiss Diabetes Venture Fund and Bioserenity, with the participation of the European Innovation Council’s EIC Fund. Alpha MOS’s two long-standing shareholders, Jolt Capital and Ambrosia Investments, are also participating in this transaction, through the conversion of convertible bonds they subscribed to in 2023.

With this capital increase, BOYDSense aims to accelerate the development of its non-invasive glucose measurement device for people with diabetes and pre-diabetes. The funds raised will enable the company to launch new clinical studies, set up the quality procedures needed to obtain the certifications required – notably ISO 13485 – for future market authorization, pursue miniaturization and recruit key positions, while ensuring financial autonomy until 2025.

In the Boydsense press release, company director Ben Delhey explains that; “These new investors bring BOYDSense both significant financial resources and valuable new skills and expertise. They complement the know-how and immense contribution of the BOYDSense team, whom I would like to congratulate on all the milestones we have already achieved”.

 

According to Fortuneo Banque, after this operation, Alpha MOS will remain the majority shareholder with over 60% of BOYDSense’s capital.