Toulouse (France) and Vienna (Austria), October 2nd, 2020.
Sweet Ventures entered into an investment agreement to support the development of Alpha MOS’ subsidiary BOYDSense into a leading provider of non-invasive breath analysis-based solutions to monitor diabetes and other chronic conditions.
Sweet Ventures is an investment group formed by the founders and early team members of mySugr. Created in 2012, mySugr has become one of the top diabetes management apps globally and was acquired by Roche in 2017. The team invests in and supports technologies that have the potential to change and save the lives of people suffering from chronic conditions.
Founded in 2015, BOYDSense (www.boydsense.com) is developing non-invasive monitoring technology that uses molecular patterns in exhaled breath to predict blood glucose values. Its first device is a small-form-factor device for personal use. Once commercially available, it will be affordable, will not require consumables, will have a smartphone companion app, and will provide a painless user experience with an elegant design. Early research results from a 2018 – 2019 clinical trial conducted in Europe with a cohort of 112 people showed that BOYDSense’s technology has the potential to meet regulatory guidelines for accuracy.
As part of the agreement:
- all business activities and personnel related to healthcare and medical technology will be transferred to BOYDSense SAS, France;
- Sweet Ventures will make an initial and immediate investment in BOYDSense SAS (230,000 €) and will have the option to increase its investment up to 1m€;
- Anton Kittelberger, will join the Supervisory Board of BOYDSense SAS as non-executive Chairman and will, together with the other investors, provide BOYDSense SAS with a unique expertise and successful track record in diabetes management services.
The transaction values BOYDSense at 10m€.
Anton Kittelberger commented that “There has been great advancement in the diabetes industry over the last decade, but we still have not seen a non-invasive technology making it to the market, bringing true convenience to the masses. I believe BOYDSense will fulfil this promise and change an industry and millions of people’s lives.”
Bruno Thuillier, founder of BOYDSense, commented that “The team at Sweet Ventures understands and shares BOYDSense’s vision about the importance and urgency for truly non- invasive blood glucose monitoring that offers a painless user experience and is affordable by all people living with diabetes.”
About Alpha MOS. Alpha MOS (Euronext Paris, compartment C, ISIN: FR0013421286-ALM) is the world’s leading manufacturer of electronic nose, tongue and eye for industrial use. We specialize in Volatile Organic Compounds (VOCs) analysis and the digitization of smell, taste and vision. Founded in 1993, Alpha MOS has offices in France, China and the United States and manages over 1000 installs worldwide.
- For more information: www.alpha-mos.com