Insulet Corporation has announced the acquisition of assets related to the pump-based automated insulin delivery (AID) technologies of Bigfoot Biomedical for $25m.
The acquisition includes certain patents related to pumps that could be used for AID therapy from Bigfoot.
The deal further bolsters the intellectual property (IP) portfolio of Insulet while providing additional capital to Bigfoot, which will allow the company to expand its Bigfoot Unity Diabetes Management System to more people requiring connected insulin injection support technologies.
Bigfoot Unity is a connected injection support technology that uses smart pen caps to offer dose suggestions based on continuous glucose monitor (CGM) data in connection with a healthcare professional’s recommendations.
The deal includes fully paid-up licences between Insulet and Bigfoot in their respective businesses regarding the acquired patents as well as other patents currently belonging to Bigfoot.
Insulet Innovation, Strategy and Digital Products executive vice-president Eric Benjamin said: “As we develop innovative products for people with insulin-requiring diabetes, we continue to invest heavily in pump and automated insulin delivery technologies.
“Insulet has substantially strengthened its IP portfolio organically over the past few years. And with this acquisition, we approximately double our already strong IP portfolio.”
AID systems, such as Insulet’s Omnipod 5 System, use a pump that connects to and communicates with a CGM to deliver insulin.
The Omnipod 5 tubeless automated insulin delivery system is integrated with a CGM to manage blood sugar and is completely controlled by a compatible personal smartphone.
Bigfoot Biomedical CEO Jeffrey Brewer said: “We’ll remain focused on commercialising connected injection support technologies and know Insulet can benefit from our patents to bring life-changing pump innovation to people with diabetes in parallel.”
