BTIG analysts said today that Beta Bionics (Nasdaq:BBNX) expects to launch a new insulin patch pump system in the U.S. by the end of 2027.
Marie Thibault, Sam Eiber and Alexandra Pang said the company revealed the new Mint system in a live demonstration at the American Diabetes Association’s 85th Scientific Sessions, outlining its plan for an eventual launch within the next couple of years.
The device comes as no surprise as Beta Bionics previously indicated that it planned to develop a patch pump device that could rival leader Insulet and potential competitors Medtronic and Tandem Diabetes Care, who are developing their own. PharmaSens and SiBionics also recently unveiled their own entry, an all-in-one device. However, ADA marked the first revealing of the device and a potential timeline to market.
According to the analysts, the company plans to offer Mint exclusively through the pharmacy channel. Intended for a three-day use, it would feature a 12-hour grace period.
The device’s “starter kit,” the analysts say, includes a reusable Mint controller and a month-long supply of disposable cartridges. It doesn’t feature a rechargeable component as the controller is expected to last around two years. The cartridge has a 200-unit capacity and a disposable battery, the analysts say.
Bluetooth pairing is only required at initiation, the analysts note, and users don’t need their phone to conduct a patch change. They only have to remove the old cartridge, fill a new one and reattach it to the controller. Beta Bionics said users can control Mint from its existing iLet app, and it will be compatible with the Dexcom G7 and Abbott FreeStyle Libre 3 Plus sensors.
“We were impressed by the form factor of the patch pump and its ease of use,” the analysts said. “The company continues to anticipate a commercial launch by the end of 2027 upon FDA 510(k) approval. Beta Bionics intends to build up their manufacturing capacity for Mint ahead of a broad-based commercial launch.”
More about what’s going on at Beta Bionics
Buzz around Mint follows a long stretch of milestones for Beta Bionics, which completed a $234.6 million IPO in January. It has also reported growth, driven by the continued rollout of the iLet bionic pancreas system. The analysts said management also detailed the differentiated iLet closed-loop technology at ADA.
iLet, Beta Bionics’ automated insulin delivery system, streamlines diabetes management by reducing the burden on patients and physicians. It received FDA clearance in May 2023. iLet users can “go bionic,” requiring no carb counting or insulin correction calculations. Then, iLet determines 100% of the insulin doses throughout the day. The only input required to get started is the user’s weight.
In addition to existing continuous glucose monitor (CGM) integrations with Dexcom and Abbott already, Beta Bionics also last week announced plans to integrate iLet with Abbott’s future sensor designed to continuously monitor glucose and ketone levels once it comes to market.
