Insulet makes second $25M acquisition of diabetes technology
Photo | Courtesy Insulet
Insulet's Omnipod 5
Acton-based Insulet, a medical device firm specializing in diabetes treatment, has acquired $25 million in assets from Automated Glucose Control LLC in California.
Insulet’s announcement Tuesday came one day after it announced an acquisition of the same dollar amount from California-based Bigfoot Biomedical.
AGC, based in Palo Alto, develops and commercializes automated insulin delivery technology. Insulet and AGC began partnership in 2016 to consult on patents licensed from a University of California Santa Barbara laboratory, according to a Tuesday press release from Insulet. The $25-million acquisition includes licenses related to the partnership and other intellectual property.
“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,” Eric Benjamin, executive vice president of innovation, strategy, and digital products at Insulet, said in the press release.
Insulet’s tubeless treatment delivery device, the Omnipod, prevents users from needing to administer multiple daily injections. The Monday acquisition of assets from Bigfoot nearly doubled Insulet’s intellectual property.
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