Insulet (Nasdaq:PODD) announced today that it acquired the assets of Automated Glucose Control, a developer of insulin delivery technology.
This marks the second asset buy in as many days for Insulet. Yesterday, the company picked up automated insulin delivery patents from Bigfoot Biomedical. Both acquisitions cost the company $25 million.
Palo Alto, California-based Automated Glucose Control (ACG) focuses on developing and commercializing best-in-class automated insulin delivery (AID) technology. Insulet develops its own AID platform, with the Omnipod 5 representing the latest iteration, having received FDA clearance last year.
Acton, Massachusetts-based Insulet entered into a license agreement and partnership with ACG in 2016. This agreement centered around patents and IP ACG licensed from the Dr. Francis J. Doyle III laboratory at the University of California, Santa Barbara.
Dr. Jennifer Schneider and Dr. Thomas Peyser co-founded ACG. They consulted with Insulet with respect to the licensed technology as part of Omnipod 5’s development. Insulet’s acquisition of assets includes the license from the University of California and other IP.
“We’ve enjoyed a productive relationship with AGC as we developed Omnipod 5 and continue to make significant advancements in the development of automated insulin delivery technology,” said Eric Benjamin, Insulet EVP of innovation, strategy, and digital products. “AGC played a critical role in facilitating the successful translation of research into industry by collaborating closely with Dr. Frank Doyle at the University of California Santa Barbara, and with Insulet.
“It is exciting to see technology come out of the research lab and mature into a commercial application that improves the lives of people with diabetes.”