Side channel analysis is a technique that enables the adversary to benefit from information leakages occurring due to the implementation of encryption algorithms on hardware. Since its introduction, side channel analysis has been extensively used in cryptology, more precisely in cryptanalysis. In this paper we describe a novel method, according to which side channel analysis is applied to bio- metric key generation algorithms, operating on resource constrained devices. Instead of aiming to identify the encryption key, and therefore penetrate the cryptographic system, the biometric signature of the user, necessary for the generation of the encryption key, can be accurately extracted. In the following sections we outline our approach for achieving this goal, describe its implications and discuss directions for future work.