Technology

PKvitality launches crowdfunding for its connected watch that monitors blood sugar levels

Startup PKvitality, which specializes in continuous monitoring of blood sugar levels, announced on May 4 the launch of a crowdfunding campaign through Wiseed to raise 1.5 million euros. This fundraiser is in the form of convertible bonds offering an annual return of 10% for 18 months.

Patch consisting of microdots

PKvitality develops K’Watch Glucose: a smartwatch with classic features (time, date, call, alarm, etc.) complemented by a continuous blood glucose monitor. It is based on a sterile patch consisting of a set of microdots and biosensors that painlessly measure glucose through the skin. It should be changed every week.

This patch collects data that shows a “trend” for a patient to dose their insulin, the hormone that regulates blood sugar levels, explains Min Le, general manager and co-founder of PKvitality at L’Usine Digitale. He will also have access to “graphs”: “time spent in hypo- or hyperglycemia, average per day …” This information can be shared with “relatives” or diabetes doctors.

Launch on the European market in 2024

K’Watch Glucose will hit the market in 2024 in Europe and 2025 in the US and is the subject of human clinical trials. The results of one of these were recently presented at the Advanced Technologies & Treatments for Diabetes event in Barcelona, ​​Spain. A group of 35 patients tested the connected watch at the AMCR Institute, a clinical research center specializing in diabetes and obesity in the US.

The success is clear, says Ming Le, quoting Timothy Bailey, principal investigator of the study and CEO of the AMCR Institute: “Patient feedback on device tolerability and user experience has been excellent. “Adhesive, micro-tips stay in place, no pain. …, he explains. In terms of accuracy, there is indeed a fairly strong correlation between our device and commercial blood glucose monitors set as controls.”

Minh Le has a clear idea of ​​his plan of action. “We still have a lot of work to do in 2022 to test device improvements from next week,” he explains. More tests will need to be done before the CE marking and US approval process will begin.

Serie B at the end of the year

The company has so far been funded with 18 million euros, two-thirds of which is in equity, backed by private investors including Beurer, a German manufacturer specializing in blood sugar measurement, and public authorities. Crowdfunding will allow it to “accelerate clinical development in the coming months and give us time to complete a Series B fundraiser” due by the end of the year.

The watch will be made in Asia, and the patches will be made at a factory in Europe. PKvitality wants to sell its connected watch for €199.90 and €100 for a pack of four patches.

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