Insulet Nabs Automated Glucose Control Assets for $25M

Insulet, developer of tubeless insulin pump tech with its Omnipod brand, has acquired the assets of Automated Glucose Control (AGC), a Palo Alto, Calif.-based company that develops and commercializes automated insulin delivery technology.
 
AGC and Insulet began a license agreement and partnership in 2016 based on patents and other intellectual property AGC had licensed from the Dr. Francis J. Doyle III laboratory at the University of California, Santa Barbara.
 
AGC’s two co-founders Dr. Jennifer Schneider and Dr. Thomas Peyser consulted with Insulet concerning the licensed technology as part of Insulet’s development of its Omnipod 5 automated insulin delivery (AID) system. Insulet paid $25 million to acquire AGC’s assets, including the license from the University of California and other intellectual property.
 
“We’ve enjoyed a productive relationship with AGC as we developed Omnipod 5 and continue to make significant advancements in the development of automated insulin delivery technology,” Eric Benjamin, executive VP of Innovation, Strategy, and Digital Products told the press. “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.”
 
Yesterday Insulet also announced it had bought patents relating to insulin pumps for AID therapy from Bigfoot Biomedical, also for $25 million.