French wearable company PKvitality raises €2.25M
PKVitality , a French company specializing in bio-wearables, has signed an agreement with Beurer GmBH, the German medical product and well-being company.
Established in 2017, PKvitality is currently working on developing K’Watch, a Continuous Glucose Monitor (CGM) in the form of a smartwatch.
As part of the agreement, PKvitality will receive €2,25m in funding to further develop the K’Watch. In return, Beurer GmBH has acquired exclusive rights in Germany, Austria and Italy, which will “contribute significantly to PKvitality’s overall commercial volume.”
Established in 1919, Beurer employs more than 900 staff and manufactures and commercializes more than 500 products in Europe, US and Asia, and is one of the major distributors of Blood Glucose Meters in Germany and Austria. Beurer believes that PKvitality’s K’Watch will become a leading product to measure blood glucose levels in real-time.
“We are very proud that our technology has been endorsed by Beurer, as the depth of their due diligence and their competencies in health-care technologies are Best in Class. We trust Beurer to be the right partner for us. Their commercial footprint will provide a powerful springboard to promote our unique product, in the large and dynamic market of CGM (Continuous Glucose Monitoring). Beurer’s investment in PKvitality will also enable us to continue our development efforts and to confirm the excellent results currently obtained in our preclinical model, and to reach the First in Man milestone.” – Luc Pierart, CEO and Founder of PKvitality.
“After extensive technical Due Diligence, we are convinced that PKvitality has one of the strongest teams and technology portfolio in the area of future Glucose monitoring applied to Continuous Glucose Monitoring. A highly professional risk management in all key areas has been established and covered with a portfolio of relevant patents. The concept of realizing a CGM in a smartwatch which is basically painfree and non-stigmatizing in combination with a much more cost-efficient sensor patch is convincing. We are looking forward to launching the K’Watch in our key territories, and are convinced that this patient friendly and cost effective device will meet a large success.” – Marco Bühler, Managing Director and 4th generation of company’s founding Family.
K’Watch will be the first wearable smartwatch medical device that measures and displays glucose level continuously, effortlessly and painlessly. With K’Watch, diabetes patients will check their glucose level instantly, see the trend and how it evolves over a period of time. Patients will also receive customized automated alerts to prevent hyper & hypoglycemia episodes for days and nights. Moreover, users have the option of alerting trusted people in case of severe episodes through notifications sent via the PK Application directly on their smartphone. K’Watch Glucose is equipped with K’apsul, a consumable which is inserted at its back. The core of K’apsul’s concept is the technology SkinTaste, a revolutionary technology based on a sensor composed of biochemicals and an array of micro-points. The micro-points stay in the upper part of the skin, a layer without pain sensation as most of the mechanical nerves are below 1mm. It measures glucose concentration by being in contact with the interstitial fluid rather than with the blood which makes it also a blood-free solution.