BIGFOOT BIOMEDICAL ACQUIRES TIMESULIN
Startup In Development with Automated Insulin Delivery Ecosystem Acquires Connected Insulin Pen Dose Capture Technology
Milpitas, CA, United States, and London, England, June 8, 2017 – Bigfoot Biomedical, Inc., a new kind of medical device company harnessing the power of machine learning to automatically and continuously optimize insulin delivery for people with insulin-requiring diabetes, today announced that it has acquired London-based biotech company Patients Pending, LTD, makers of the Timesulin® insulin pen timer cap, and its Bluetooth-enabled insulin pen dose capture technology.
The acquisition positions Bigfoot as the first company to simultaneously pursue insulin delivery solutions in both the insulin infusion pump and injection spaces. The addition of insulin pen dose capture technology will enable a future connected ecosystem that creates the first IoT solution for insulin-requiring diabetes.
“Bigfoot isn’t in the pump business. And even though we are excited to add a connected dose capture technology for insulin injections, we aren't in the pen business either. Bigfoot is a solutions company developing systems that connect components into Class III medical device systems capable of supporting auto-titration for insulin dosing across a variety of glucose sensing and insulin delivery technologies,” said Jeffrey Brewer, Bigfoot Biomedical President and CEO. “We believe integrated systems are the future of diabetes therapy and, going forward, only systems will be able to compete to improve quality of life, lower clinical delivery costs, and decrease overall healthcare costs for people with insulin-requiring diabetes.”
“We believe integrated systems are the future of diabetes therapy and, going forward, only systems will be able to compete to improve quality of life, lower clinical delivery costs, and decrease overall healthcare costs for people with insulin-requiring diabetes.”
-- Jeffrey Brewer, President & CEO
John Sjölund, who together with Marcel Botha and brother Andreas Sjölund, co-creator of Skype™, founded Patients Pending, LTD, in 2010, will join Bigfoot Biomedical to lead the effort to bring Bigfoot's insulin automation technology to people injecting insulin. Sjölund joins a team unmatched in expertise across medical device, consumer design, and enterprise software. Like many on the Bigfoot team, he also has a personal connection to type 1 diabetes, having lived with the condition since the age of four.
“To have the opportunity to work alongside this outstanding team, to make a real difference to those of us living with insulin-requiring diabetes, is going to be transformational,” said John Sjölund, Timesulin CEO. “I believe that the impact that Timesulin will have as a part of Bigfoot and the products we are going to bring for those on multiple daily injections will change the landscape forever.”
Bigfoot completed its first clinical trial in late 2016 and anticipates a pivotal trial for its first automated system will begin in late 2017 at clinical study sites across the United States.
About Bigfoot Biomedical, Inc.
Bigfoot Biomedical was founded by a team of people with a personal connection to type 1 diabetes and, with its smartloop service, seeks to change the paradigm of care for insulin-requiring 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. Learn more at bigfootbiomedical.com. Follow us on Twitter @BigfootBiomed and Facebook.
About Patients Pending Ltd
Patients Pending Ltd was established in 2010 to create unique and patentable solutions to daily issues faced by people living with chronic conditions. We focus on simplicity for the user for every design decision we make. Our first patented product, Timesulin®, has achieved international adoption by the diabetes community globally through partnerships with diabetes patient associations, relationships with large pharmaceutical companies, and direct sales to customers who can benefit from the security that Timesulin provides.