Insulet (Nasdaq:PODD) announced today that it acquired assets related to Bigfoot Biomedical’s pump-based automated insulin delivery technologies.
Acton, Massachusetts-based Insulet paid $25 million to acquire the AID assets. These include certain Bigfoot patents related to pumps that may be used for AID therapy. Insulet already develops its own AID technology with its Omnipod platform.
The most recent generation of that technology, Insulet’s Omnipod 5, received FDA clearance in January 2022. It’s the first tubeless, wearable automated insulin delivery system cleared for marketing in the U.S.
Insulet said in a news release that the transaction further strengthens its IP portfolio. It also offers Bigfoot additional capital to expand its Bigfoot Unity diabetes management system.
Bigfoot Unity aims to simplify CGMs and the data they produce to tell people how much insulin to take at a given point in time. It features a smart insulin pen cap, which takes data from a CGM. This informs the patient exactly how much insulin they need. Bigfoot founder and CEO Jeffrey Brewer explained the “transformative platform” to Drug Delivery Business News last year.
Insulet and Bigfoot said the transaction also includes full paid-up licenses between parties in their respective business fields.
Get the full story at our sister site, Drug Delivery Business News.