Modular Medical (Nasdaq:MODD) announced recently that it received a new U.S. patent to pair its insulin pump with a mobile device. The company picked up U.S. Patent 11,817,197 B2 for the stream-lined pairing of a pump to a mobile device. Just last month, it submitted its 90-day MODD1 pump to the FDA for 510(k) clearance. […]
RenovoRx closes $6.1M private placement
RenovoRx announced today that it closed a private placement bringing in gross proceeds of approximately $6.1 million. Los Altos, California-based RenovoRx develops precision oncology therapies based on a local drug delivery platform. Closing this funding round extends the company’s cash runway as it conducts its pivotal TIGer-PaC Phase III clinical trial. It expects the funds […]
The top IVD and diabetes tech stories of 2023
Over the course of 2023, the medtech industry produced another impressive year of innovation, with news coming from a variety of spaces. Chiefly among those were diabetes technologies and in vitro diagnostics (IVDs). We saw regulatory nods, product launches, funds raised and mergers fall apart. Looking at those two spaces in particular, here are five […]
Insulet enters into new credit agreement worth $487.5M in term loans
Insulet (Nasdaq:PODD) announced that it entered into an amended credit agreement to replace existing term loans. The automated insulin delivery technology developer entered into the agreement with Morgan Stanley Senior Funding. This agreement amended a credit agreement dated May 4, 2021. Pursuant to the agreement, the $487.5 million in term loans outstanding under the existing […]
Abbott sees big opportunities in insulin pump connectivity
Just weeks after highlighting optimism around the Abbott (NYSE:ABT) Diabetes Care unit, company officials doubled down on their excitement. At the J.P. Morgan Healthcare Conference, CEO Robert Ford highlighted diabetes as a key area for near-term growth. On the company’s fourth-quarter earnings call today, he explained some of the driving factors behind the positive outlook. It […]
Samsung could battle Apple over non-invasive glucose monitors
Bloomberg reports that Samsung has eyes on developing non-invasive glucose monitoring technology, potentially pitting it against Apple. The report says the electronics company wants to develop continuous blood pressure checking along with glucose monitoring. It comes as part of an effort to incorporate health features in Samsung devices, like its Galaxy Ring, Bloomberg says. Hon Pak, […]
Modular Medical submits next-gen insulin pump for FDA clearance
Modular Medical (Nasdaq:MODD) announced today that it submitted its next-generation MODD1 insulin pump to the FDA for 510(k) clearance. San Diego-based Modular Medical develops patented insulin delivery technologies, aiming to improve access to glycemic control. Its founder, Paul DiPerna, previously founded leading insulin pump maker Tandem Diabetes Care. DiPerna invented and designed Tandem’s t:slim pump. […]
Dexcom breaks ground on manufacturing facility in Ireland
Dexcom (Nasdaq:DXCM) announced today that it broke ground on a new state-of-the-art manufacturing facility in Ireland. The San Diego-based continuous glucose monitor (CGM) maker announced plans to invest $325 million in Athenry last May. Breaking ground on the facility marks the first steps toward bringing more than 1,000 jobs to the area. The company expects […]
Insulet has new directors as former CEO is set to retire from board
Insulet (Nasdaq:PODD) announced today that it named a duo of new board directors with high-profile figures set to retire. Acton, Massachusetts-based Insulet appointed Flavia Pease and Timothy Stonesifer to its board. Former CEO Shacey Petrovic, along with Corinne Nevinny, intend to retire from the board in May. Petrovic spent more than seven years as CEO […]
Kindeva Drug Delivery acquires nasal spray company Summit Biosciences
Kindeva Drug Delivery announced today that it acquired Summit Biosciences, an intranasal drug-delivery company. Summit, a drug delivery CDMO, brings a track record of innovation in the unit dose nasal spray market. Kindeva believes the acquisition enhances its existing drug delivery capabilities by adding a new platform. This new platform enhances its ability to serve […]