DarioHealth’s Debt Financing

DarioHealth, a company specializing in digital chronic condition management, has successfully closed a debt financing facility worth up to $50 million with the assistance of Callodine Group and Rand Capital.

• The funding will restructure the company’s previous credit facility.
• It aims to enhance DarioHealth’s B2B2C strategy targeting pharmaceutical partners, self-insured employers, and payer organizations.
• At the closing, DarioHealth borrowed $32.5 million, with an additional $17.5 million available upon meeting specific revenue milestones.
• The credit agreement spans five years, maturing in April 2030.
• The company plans to buy 2,114,140 shares of its common stock at an exercise price of $0.8278.
• Up to $2.5 million of the loan can be converted into shares at a price of $0.9933 per share.
• DarioHealth anticipates that deferring debt amortization from the end of 2025 to 2028 will provide time to generate operational funds to support cash flow.

Epicore Biosystems Expands Series B Funding

Epicore Biosystems, known for its innovative sweat-sensing wearable technology and cloud analytics platform, has announced an expansion of its Series B funding, raising an additional $6 million, bringing the total to $32 million.

• The funding round includes contributions from notable angel investors and a San Francisco-based investor.
• Joyance Partners and Alumni Ventures continue to support the company.
• Epicore utilizes microfluidic channels and biosensors to analyze biomarkers in sweat, aiming to enhance personalized health monitoring.
• The funds will be allocated to validate biomarkers for kidney health and stress management, improve real-time cloud analytics, and expand into industrial markets in the Middle East, Asia, and Australia.

CEO and co-founder Roozbeh Ghaffari stated, “Connected Hydration captures multiple sweat and physiology biomarkers, providing real-time feedback to help manage hydration, fatigue, and recovery needs.” He expressed excitement about having mission-driven investors who recognize the potential of biosensor technologies to improve safety, well-being, and productivity.

Earlier this year, Epicore secured $25 million in Series B funding and raised $10 million in Series A funding in 2022.