Insulet Corp. (NSDQ:PODD) is hoping to win 510(k) clearance* for a new Omnipod officials said will help the company reduce its production costs by more than a third.
Insulin Management
Medtronic cuts jobs in diabetes unit
Medtronic Inc. (NYSE:MDT) has taken the axe to its diabetes unit, according to news reports.
The Fridley, Minn.-based company has cut “hundreds” of employees in its diabetes unit, according to the “Diabetic Insider” blog run by David Kliff, a prominent diabetes industry analyst.
Insulet looks north of the border with GlaxoSmithKline deal
UPDATED 3/3/2011 10:20 a.m.
Insulet Corp. (NSDQ:PODD) inked a Canadian distribution deal with GlaxoSmithKline plc (NYSE:GSK) for its OmniPod insulin management system.
The deal gives the British pharma giant — stung by recent problems with its Avandia diabetes drug — exclusive rights to market and sell Bedford, Mass.-based Insulet’s OmniPod system north of the border.
Insulet inks Canadian deal with GlaxoSmithKline | Distribution roundup
Insulet Corp. (NSDQ:PODD) inked a Canadian distribution deal with GlaxoSmithKline plc (NYSE:GSK) for its OmniPod insulin management system.
The deal gives the British pharma giant — stung by recent problems with its Avandia diabetes drug — exclusive rights to market and sell Bedford, Mass.-based Insulet’s OmniPod system north of the border.
Cellnovo raises $48 million to commercialize “itunes of diabetes care”
Cellnovo announced its presence as a major player in the diabetes race with $48 million in new funding for what industry observers have called the “iTunes of diabetes care.”
The B round for the London-based company was led by Edmond de Rothschild Investment Partners (EdRIP), with Forbion Capital Partners, Auriga Partners, NBGI Ventures and Credit Agricole Private Equity.
Previous investors Advent Venture Partners, HealthCare Ventures and NESTA also participated in the round, according to a prepared release.
Insulet Corp. records 57% jump in 2Q revenues
Insulet Corp. (Nasdaq:PODD) is moving into its second decade as a business looking at new markets for its OmniPod insulin infusion device, improving sales, better terms on its long-term debt and a little extra cash.
But it’s still fighting a problem that’s as old as the company: Net losses typically running out to eight digits.
FDA moves on new infusion pump rules
The Food & Drug Administration made its first moves toward stricter regulation of infusion pumps, issuing proposed new guidelines advising manufacturers of the devices that they’ll likely have to run more in-depth clinical trials before the FDA clears new pumps.
In March, the federal watchdog agency convened a panel to review the risks posed by the pumps, after 18 recalls were issued for the devices over a five-year period.
UPDATE: Insulet inks 5-year, $100 million, 11-nation OmniPod distribution deal
The OmniPod is going global.
Bedford, Mass.-based Insulet Corp. (NSDQ:PODD) signed a five-year, $100 million international distribution deal with Ypsomed AG (SIX:YPSN) to exclusively distribute the insulin management system in 11 countries, including China.
UPDATE: CeQur closes $30 million Series A round with $10 million injection
CeQur SA completed a $30 million Series A funding round with a $10 million injection from a group of existing backers.
The Swiss company, which houses its U.S. operations in Marlborough, Mass., said it plans to use the funds to clear regulatory hurdles in Europe for its subcutaneous insulin patch for Type 2 diabetes. The investment group includes BMC Ventures A/S, Endeavour Vision SA, Schroder & Co. Bank AG and Venture Incubator AG.
UPDATE: Insulet prices secondary offering at $10.25 per share
Insulet Corp. wants to work off a few more IOUs.
The Bedford, Mass.-based device company is again dusting off its prospectus — this time with plans to sell 6 million shares of stock for $10.25 per share.* At that price, the proposed offering would generate nearly $58 million in net proceeds once the underwriters’ usual 6 percent fee is deducted.
Insulet’s Q3 sales rise, operating losses narrow as it up its full-year guidance
Insulet Corp. posted strong third-quarter results, with increased revenues and narrower operating losses, prompting the Bedford, Mass.-based firm to increase its full-year sales and earnings forecasts.
The insulin management system maker posted revenues of $18.7 million during the three months ended Sept. 30, up 85.3 percent compared with $10.1 million during the same period last year.