Dexcom Inc. (NSDQ:DXCM) said today it signed a partnership deal with the life sciences team at Google (NSDQ:GOOG) to jointly develop continuous glucose monitoring products.
The new partnership will bring together Google’s miniaturized electronics platform and DexCom’s sensor technology, and looks to develop next-generation CGM devices that will be less expensive than existing technologies, San Diego, Calif.-based DexCom said.
“This partnership has the potential to change the face of diabetes technology forever. Working together, we believe we can introduce products that will move us beyond our core Type 1 business to become the standard of care for all people living with diabetes,” DexCom CEO Kevin Sayer said in a press release.
DexCom said that the agreement will also allow the 2 companies to better utilize data generated by CGM products to improve care and reduce costs associated with diabetes.
Initial development will focus on minimizing the cost and size of CGM components, with production of disposable, universally usable devices, the companies said.
A goal of the partnership will be to develop a low-cost bandage-sized sensor connected to the cloud, which the companies said they believe can replace finger sticks to become a standard of care.
“We’re committed to developing new technologies that will help move health care from reactive to proactive. This collaboration is another step towards expanding monitoring options and making it easier for people with diabetes to proactively manage their health,” Google life science team head Andrew Conrad said in prepared remarks.
DexCom will retain sales and distribution rights for products developed, but will pay an upfront payment and milestone payments during development, the companies said.
