The medtech giant had a long-term, vested interest in Bigfoot, a maker of a smart insulin management system. It dates back to 2017, with Abbott even leading a financing round for Bigfoot in 2020.
“We had a relationship and investment stake in Bigfoot for quite a while,” said Abbott Diabetes SVP of Commercial Operations, Chris Scoggins. “We dated before we married.”
Scoggins, speaking to Drug Delivery Business News at the American Diabetes Association Scientific Sessions in Orlando, Florida, said the decision came down to the consumer.
Market research found that managing the use of insulin proved a difficult aspect of managing diabetes, he explained. Pumps exist for a segment of the diabetes population, but that largely penetrates those with type 1 diabetes. Pump penetration in the type 2 space remains small, Scoggins said.
The company has made partnerships to connect its continuous glucose monitors to insulin pumps, recently hitting milestones in the U.S. and Europe. But still, according to Scoggins, the type 2 population is under-penetrated on that front.
“That’s where we see the role for a connected pen,” Scoggins said. “We brought on a lot of smart people that came from Bigfoot and we’re learning every day. This is their passion point and their subject matter expertise. We’re getting smarter and smarter on learning what they know, and they’re getting smarter and smarter on how that comes together with CGM. We’re pretty excited about what’s going to bear fruit in the future.”
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