Insulet Corporation (NASDAQ: PODD), the global pioneer in tubeless insulin pump technology, has made a major acquisition today with the assets of Automated Glucose Control LLC (AGC). Located in Palo Alto, California, AGC is committed to developing and delivering cutting-edge automated insulin delivery technology. Through this acquisition, Insulet will be able to stay at the forefront of the diabetes industry with advanced insulin delivery solutions for those living with diabetes.
Insulet and AGC formed a collaborative partnership in 2016, building on AGC’s license of patents and other intellectual property from the Dr. Francis J. Doyle III laboratory at the University of California, Santa Barbara. Co-founders Dr. Jennifer Schneider and Dr. Thomas Peyser offered their expertise to Insulet to aid in the development of its Omnipod® 5 Automated Insulin Delivery system. Insulet subsequently acquired AGC’s assets, including the license from the University of California and other intellectual property, for a sum of $25M.
Insulet and AGC have enjoyed a successful partnership as we have worked together to develop our revolutionary Omnipod 5. AGC was integral in translating research from the University of California Santa Barbara, led by Dr. Frank Doyle, into a commercial application that has improved the quality of life for those living with diabetes. We are proud of the advancements we have made in automated insulin delivery technology, and we look forward to continuing to build upon this progress in the future. Eric Benjamin, Executive Vice President of Innovation, Strategy, and Digital Products, has remarked on the success of this partnership and the positive impact it has had on the lives of people with diabetes.
About Insulet Corporation:
Insulet Corporation is revolutionizing the way people with diabetes and other conditions manage their health. The groundbreaking Omnipod Insulin Management System is a unique alternative to traditional insulin delivery methods, offering a simple, wearable design with a disposable Pod that provides up to three days of non-stop insulin delivery without ever needing to see or handle a needle. The newest innovation, the Omnipod® 5 Automated Insulin Delivery System, is a tubeless automated insulin delivery system with a continuous glucose monitor and can be fully controlled by a compatible personal smartphone. In addition, Insulet is using its advanced technology platform to deliver non-insulin subcutaneous drugs across a variety of therapeutic areas. By delivering convenience, accuracy, and control to those in need, Insulet is transforming lives and redefining the future of medical device technology.
About Automated Glucose Control LLC (AGC):
Dr. Jennifer Schneider and Dr. Thomas Peyser are the founders of AGC, a life science entrepreneurship that was inspired by Dr. Schneider’s daughter who lives with type 1 diabetes. Driven to make a difference in the lives of those living with diabetes, Dr. Schneider has advised numerous life science companies, serves on the International Board of JDRF and is co-founder and President of Surf Bio, an early-stage biopharma company. Dr. Peyser, a physicist, turned his attention to diabetes technology after his daughter’s diagnosis and held executive positions at major diabetes companies. Additionally, Dr. Frank Doyle, who pioneered the use of Model Predictive Control algorithms to the control of glucose in diabetes, currently serves as Dean of the John A. Paulson School of Engineering and Applied Sciences at Harvard University. Together, this team of experts is striving to make a difference in the lives of people with diabetes.