Bigfoot Biomedical, Inc. announces that the company has raised $45 million in the initial tranche of a Series C equity financing, led by Abbott.
Conceptual renderings
Are we ever going to sleep again?
In 2011, the five-year-old son of a Wall Street quant trader was diagnosed with Type 1 Diabetes (T1D). With no cure in sight, the diagnosis meant a lifetime of multiple daily insulin injections or clunky medical devices, analyzing every meal, countless blood tests, a constant fear of seizures, and an end to sleeping through the night.
But this father was unlike many. This dad hacked into an off-the-shelf insulin pump and a continuous glucose monitor, wrote an algorithm to automatically dose insulin in the right amount at the right time, and married these pieces together in a companion mobile app - effectively creating an automated insulin delivery system.
Since 2013, his wife, also a person with T1D, and his son have been living as though diabetes barely exists. They eat, play, and work without the distress of dealing with diabetes. This mystery man, dubbed “Bigfoot” by the media, and his code, fine-tuned by more than 50,000 hours of real-world use, formed the foundation of Bigfoot Biomedical.
READ MOREAt Bigfoot, we envision a world where life with diabetes is easier. We want to add sleep, reduce fear and worry, and increase the time that all people with insulin-requiring diabetes spend living a healthy life. To do that, we have to ask ourselves "How do you reduce the diabetes burden?"
We are drawing a circle around everything that it takes to manage insulin-requiring diabetes. We think about the complexity of diabetes therapies and how we can design simpler solutions that more people can actually access. We consider the way a healthcare provider prescribes a therapy and how we can eliminate hundreds of unnecessary steps. We think about how a therapy might deliver value to an insurance payer so that we can create a sustainable business.
From one end of the spectrum to the other, we are thinking of ways to reduce the pain points of managing diabetes. We are designing comprehensive solutions of device + software + service to help people with diabetes administer insulin more safely, whether through injection or infusion, and access our service more cost-effectively.
*CAUTION - Investigational Device. Limited by Federal (or United States) law to investigational use. Smartphone application renderings reflect concepts and images that are subject to change and may not reflect finished commercial software products.
Bigfoot Biomedical, Inc. announces that the company has raised $45 million in the initial tranche of a Series C equity financing, led by Abbott.
We have recruited the right expertise from medtech, enterprise software, and consumer technology to assemble a dream team of talented professionals dedicated to tackling a tough disease. Deep in our lair in the heart of Silicon Valley, each member brings his or her skill set, spirit, and commitment to what we’re promising, declaring #ibelieveinbigfoot!
CAREERS"I believe in Bigfoot because we’re going to make it much less scary… for me, for my kids, and for moms everywhere."
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CONTACTBigfoot Biomedical was founded by people affected by and living with Type 1 Diabetes (T1D) and is committed to leveraging data, people, and smart technology to create a connected ecosystem of solutions that will deliver improved outcomes valued by patients, providers, and payers.
Bigfoot's investigational automated insulin delivery system, otherwise known as an "artificial pancreas," was inspired by a proof-of-concept system that's been used for over 50,000 hours.
1820 McCarthy Blvd
Milpitas, CA 95035
Phone: 408-716-5600
info@bigfootbiomedical.com
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