ARTICLE SUMMARY:
Insulet, a leader in tubeless insulin pumps for diabetes, has acquired pump-based automated insulin delivery IP from Bigfoot Biomedical, which is doubling down on its pivot to connected insulin smart pen solutions. We speak with Bigfoot Biomedical’s CEO, Jeffrey Brewer, about the company’s future plans.
Coming off a very successful 2022 US launch of its Omnipod 5 patch-pump-based automated insulin delivery (AID) system, Insulet is now working to expand its intellectual property base, in part by acquiring outside IP. (See “Diabetes Devices: All Eyes on Patch-Pumps,” MedTech Strategist, January 19, 2023.) Of particular interest is a recent transaction between Insulet and Bigfoot Biomedical that could impact Insulet’s future innovation efforts. In February, the two companies announced that Insulet agreed to pay $25 million to acquire IP from Bigfoot Biomedical related to pump-based AID technologies. The transaction also includes fully paid-up licenses between the companies.
