Artificial pancreas developer Bigfoot Biomedical said today that it acquired Patients Pending and its connected insulin pen technology for an undisclosed amount.
With this acquisition, Bigfoot said it is the 1st company to simultaneously pursue both insulin infusion and injection delivery solutions.
“Bigfoot isn’t in the pump business. And even though we are excited to add a connected dose capture technology for insulin injections, we aren’t in the pen business either. Bigfoot is a solutions company developing systems that connect components into Class III medical device systems capable of supporting auto-titration for insulin dosing across a variety of glucose sensing and insulin delivery technologies,” Jeffrey Brewer, president & CEO, said in prepared remarks. “We believe integrated systems are the future of diabetes therapy and, going forward, only systems will be able to compete to improve quality of life, lower clinical delivery costs, and decrease overall healthcare costs for people with insulin-requiring diabetes.”
Patients Pending founder, John Sjölund, plans to join Bigfoot Biomedical in connection with the acquisition. Sjölund has had Type I diabetes since he was 4 years old.
“To have the opportunity to work alongside this outstanding team, to make a real difference to those of us living with insulin-requiring diabetes, is going to be transformational,” Sjölund said. “I believe that the impact that Timesulin will have as a part of Bigfoot and the products we are going to bring for those on multiple daily injections will change the landscape forever.”
Bigfoot finished its 1st clinical trial late last year and is slated to a launch a pivotal trial for its automated insulin delivery system later this year.