It never ends

It never ends

There are times when we honestly believe the easiest way to raise millions of dollars is not to be innovative but to take an existing idea in a hot market and claim that you can build a better mouse trap. This is not to say that a better mouse trap cannot be built rather how it easy it is as we say so often to steal more money with a good PowerPoint then it is with a gun.

We have witnessed this for over 20 years now, yet it still astonishes us that investors will pony up millions based on nothing more than a good idea. We have seen this with non-invasive conventional glucose monitoring, something that has never worked. It came back from the dead only now is non-invasive continuous glucose monitoring, another whiz bang idea that so far hasn’t worked but like conventional non-invasive garners millions in investment.

See CGM is all the rage right now and everything points to the demise of SMBG and the rise of CGM. Everyone has begun to realize, and for some it took being hit over the head with a very large and heavy sledgehammer, that SMBG is dead and CGM is becoming the standard for glucose measurement. So of course, it stands to reason that a non-invasive CGM has become the new Holy Grail, that it has replaced the old Holy Grail a conventional non-invasive glucose monitor. Guess Grail’s aren’t what they used to be, although Monty Python’s Holy Grail remains the best Grail of all time. But we digress.

Look at this tidbit we found while on the MassDevice web site;

“Biosensor developer Biolinq said today it closed a $10 million Series A financing round to support its wirelessly-enabled biosensor patch designed for continuous monitoring of biomarkers, with an initial focus on monitoring glucose in diabetes patients.”

Other than being based in the beautiful city of San Diego, somewhere Diabetic Investor may actually call home in the near future, we know very little about Biolinq, but we have investigated. According to their web site (and yes, all these companies have way cool web sites);

“Bringing the next generation CGM technology to market requires brilliant expertise and focused leadership, along with the ability to deliver miniaturized technology with unparalleled performance. Leveraging ground breaking research at UC San Diego, Biolinq’s intradermal CGM allows for a pain-free means to sense glucose. Combined with advances in scalable manufacturing techniques, the stage is set for disruption in an exploding market.”

Since we are not experts on such things we reached out to our group of CGM experts, remember we majored in drinking and these very smart people actually went to class. Well it seems this is yet another old technology that has been reformatted, that it was originally called a “tattoo” but given that the wearable market is so damn hot it has been reconstituted to a “wearable”.

And don’t you just love it that the folks at Biolinq stated; “Combined with advances in scalable manufacturing techniques, the stage is set for disruption in an exploding market.” Hey, we didn’t say these guys were stupid, they obviously have done some homework something most of these companies don’t do, they know all the buzz words and hot items that make investors salivate and open their checkbooks. So, it’s not surprising they got their $10 million, nor will we be surprised to see them get more money in the future.

See this is what happens in our wacky world, a market gets hot thanks to some very real companies, companies that have something that works and everyone else jumps in. Seriously we have no idea how many CGM wannabes there are but my goodness they seem to be multiplying faster than rabbits in heat. Keep in mind that in addition to the very real companies Dexcom (NASDAQ: DXCM), Medtronic (NYSE: MDT) and Abbott (NYSE: ABT) we have also GlySens (also based in beautiful San Diego) and Senseonics. And some may remember back while at EASD in Lisbon how we noted the many CGM wannabes.

So naturally it makes perfect sense that we need yet another CGM wannabe, which just so happens does not have a new idea, no surprise here and yep let’s throw $10 million in the pot and see what we can cook up.
Now rather than dish on the good people at Biolinq, who after all are just taking advantage of a hot market with tons of money being thrown at it. Heck this is America and the last time we looked we are still capitalists and it’s against our nature not to separate fools from their money.

No what we’re going to do is come up with our very own whiz bang way cool toy, come up with snazzy PowerPoint which will obviously include every buzz word we can find. We’ll fill the PowerPoint, which will of course include “The Slide”, with lots of financial projections based on nothing more than fuzzy math (heck if OneDrop can get away with using fuzzy math we can too) and our guess is investors will be knocking down our doors to invest. Even better we’ll base the company in beautiful San Diego, so we can write off our snazzy new apartment as a legitimate business expense. Hey, Momma Kliff didn’t raise an idiot.

What’s best of all we already have name for our new device, in honor of the newest addition to the Kliff family we’re calling our device the Tyler. Of course, our second-generation device, hey gotta have that too, will be called the Dylan. Now this does present somewhat of a dilemma as we have this suspicion that little Tyler Dylan will not be the only addition to the Kliff clan. No worries no matter how many additions there are we’re sure we can find some way cool whiz bang toy to name after them.

See that’s the great thing about grandchildren as they love playing with toys and could care less whether the damn thing has any real value whatsoever. Come to think it they are pretty smart too as even at his very young age Tyler knows not to waste his money on foolish things. Or as his great grandmother Momma Kliff used to say; “Kids may be young and inexperienced but it doesn’t mean they are stupid.”