Mass.-based insulin-pump maker Insulet acquired assets related to Bigfoot Biomedical’s pump-based automated insulin delivery (AID) technologies for $25 million.
Insulet and Bigfoot offer two distinct forms of diabetes-management care: Insulet’s Omnipod system that delivers insulin via a wearable, tubeless pump dubbed the Pod; and a remote controller called the Personal Diabetes Manager (PDM).
Bigfoot’s Unity provides injection support technologies that leverage smart pen caps and provides dose suggestions to patients based on continuous glucose monitoring data and provider recommendations.
Bigfoot will use the funds from the sale to expand access to its Bigfoot Unity Diabetes Management System.
“As we develop innovative products for people with insulin-requiring diabetes, we continue to invest heavily in pump and automated insulin delivery technologies,” Eric Benjamin, Insulet’s executive vice president of innovation, strategy and digital products, said in a statement.
“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 has substantially strengthened its IP portfolio organically over the past few years. And with this acquisition, we approximately double our already strong IP portfolio.”
THE LARGER TREND
In 2021, Bigfoot Biomedical’s Unity System received FDA 510(k) clearance for use among individuals 12 years and older with Type 1 or Type 2 diabetes.
Last year, Matt Rainville, the former vice president and general manager of global Type 2 market at Insulet, joined Bigfoot’s leadership team as its chief commercial officer to lead the growth of Bigfoot’s Unity program.
In October, Insulet voluntarily recalled its Omnipod DASH Insulin Management System Personal Diabetes Manager due to reports of battery issues, which the FDA later identified as a Class I recall, indicating a device could cause serious injuries or death. Insulet notified users of the recall via an Urgent Medical Device Correction email.
In December, the company sent a follow-up letter requesting users acknowledge receipt of the initial email.
The follow-up letter included a link to a unique web page that inadvertently exposed IP addresses and whether customers used the DASH system and PDM to website-performance and marketing partners.