Insulet (Nasdaq:PODD) announced today that it acquired assets related to Bigfoot Biomedical’s pump-based automated insulin delivery technologies.
Acton, Massachusetts-based Insulet paid $25 million to acquire the AID assets. These include certain Bigfoot patents related to pumps that may be used for AID therapy. Insulet already develops its own AID technology with its Omnipod platform.
The most recent generation of that technology, the Omnipod 5, received FDA clearance in January 2022. It’s the first tubeless, wearable automated insulin delivery system cleared for marketing in the U.S.
Insulet said in a news release that the transaction further strengthens its IP portfolio. It also offers Bigfoot additional capital to expand its Bigfoot Unity diabetes management system.
Bigfoot Unity aims to simplify CGMs and the data they produce to tell people how much insulin to take at a given point in time. It features a smart insulin pen cap, which takes data from a CGM. This informs the patient exactly how much insulin they need. Bigfoot founder and CEO Jeffrey Brewer explained the “transformative platform” to Drug Delivery Business News last year.
The companies said the transaction also includes full paid-up licenses between parties in their respective business fields.
Insulet continues to ‘invest heavily’ in diabetes tech
Eric Benjamin, Insulet EVP of innovation, strategy, and digital products, said the acquisition approximately doubles the company’s IP portfolio.
“As we develop innovative products for people with insulin-requiring diabetes, we continue to invest heavily in pump and automated insulin delivery technologies,” said Benjamin. “Bigfoot has made valuable contributions to the industry through many years of research and development in these fields and we are thrilled to acquire these assets.
Insulet said connected injection support through platforms like Bigfoot Unity leverages smartpen caps. They provide dose suggestions based on CGM data in connection with a healthcare professional’s recommendations. This differs from the Omnipod 5, which communicates with a CGM to deliver insulin through a pump.
The company believes the different types of insulin delivery technologies address the varying needs of people with diabetes. Preferences in technologies depend on where a person is on their diabetes journey, Insulet said. Adding Bigfoot’s technology to the portfolio helps to reach a wider population.
“Our history of innovation in insulin delivery has helped us simplify the complexities for this population, by eliminating the anxious guesswork out of daily insulin dose management,” Brewer said. “We’ll remain focused on commercializing connected injection support technologies and know Insulet can benefit from our patents to bring life-changing pump innovation to people with diabetes in parallel.
“Expanding innovation is our goal, and this transaction will help bring powerful technologies to the people who need it most.”
