Milpitas, CA, October 19, 2016 – Bigfoot Biomedical, Inc., a highly anticipated precision medicine company founded by people directly impacted by Type 1 Diabetes (T1D), today announced a Series A investment of $35.5 million, led by entities advised by Quadrant Capital Advisors, with participation from Cormorant Asset Management, Senvest Capital, and Visionnaire Ventures. The funding will support final development activities for Bigfoot’s smartloop™ automated insulin delivery service, the world’s first Internet-of-Things medical device system delivered as a monthly service.
With its smartloop service, Bigfoot seeks to change the paradigm of care for insulin-dependent diabetes by leveraging data, connectivity, automation, and machine learning to reduce the burden on people with diabetes and maximize the leverage of health care providers. The core of the service is a cloud-connected ecosystem for diabetes disease management, interfacing with wearable insulin delivery and glucose monitoring tools, all accessible through a secure mobile app on a smartphone. Designed from the ground up to be user friendly and utilizing a safety driven design process, Bigfoot’s smartloop system incorporates features such as over-the-air upgradeability and passive data capture to enhance all aspects of chronic disease management. Bigfoot’s sophisticated machine learning engine personalizes therapy and provides automated decision support to both patients and providers.