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Insulet acquires Bigfoot's insulin pump patents for $25M

2023-02-14

交易

并购

Photo courtesy of Insulet

Mass.-based insulin-pump maker Insulet acquired assets related to Bigfoot Biomedical's pump-based automated insulin delivery (AID) technologies for $25 million.

Insulet and Bigfoot offer two dInsulet forms of diabetes-managemenBigfoot BiomedicalOmnipod system that delivers insulin via a wearable, tubeless pump dubbed the Pod; and a remote controller called the Personal Diabetes Manager (PDM).

Bigfoot's Unity provides injection support techndiabetesthat leverage smarInsuletaps and provides dose suggestioninsulintients based on continuous glucose monitoring data and provider recommendations.

Bigfoot will use the funds from the sale to expand access to its Bigfoot Unity Diabetes Management System.

"As we develop innovative products for people with insulin-requiring diabetes, Diabetesnue to invest heavily in pump and automated insulin delivery technologies," Eric Benjamin, Insulet's executive vice president of innovation, strategy and digital products, said in a statement.

"Bigfoot has made valuable contributions to the indinsulin-requiring diabetesf research and development in these fields and we are thrilled to acquire these assets. Insulet has sInsuletially strengthened its IP portfolio organically over the past few years. And with this acquisition, we approximately double our already strong IP portfolio."

THE LARGER TRENDInsulet

In 2021, Bigfoot Biomedical's Unity System received FDA 510(k) clearance for use among individuals 12 years and older with Type 1 or Type 2 diabetes.

Last year, Matt Rainville, the former vice president and general manager of global Type 2 market at Insulet, joined Bigfoot's leadership teadiabetes chief commercial officer to lead the growth of Bigfoot's Unity program.

In October, Insulet voluntarily recalled its Omnipod DASH Insulin Management System Personal DiabeteInsuleter due toBigfoots of battery issues, which the FDA later identified as a Class I recall, indicating a device could cause serious injuries or death. Insulet notified users of the recall via an Urgent Medical Device Correction email.

In December,Insuletmpany sent a follow-up letter requesting users acknowledge receipt of the Diabetesemail.Insulet

The follow-up letter included a link to a unique web page that inadvertently exposed IP addresses and whether customers used the DASH system and PDM to website-performance and marketing partners.

Tags: Insulet, Bigfoot Biomedical, insulin delivery, diabetes management