Insulet Acquires Bigfoot Biomedical Insulin Pump Patents for $25M

Insulet has acquired assets from Bigfoot Biomedical related to Bigfoot’s pump-based automated insulin delivery (AID) technologies. The $25 million acquisition includes Bigfoot patents related to pumps that may be used in AID therapy.
 
The deal strengthens Insulet’s intellectual property portfolio and gives Bigfoot additional capital to expand its Bigfoot Unity diabetes management system to more people needing connected insulin injection support tech. The deal further includes paid-up licenses between the parties in their business fields.
 
“As we develop innovative products for people with insulin-requiring diabetes, we continue to invest heavily in pump and automated insulin delivery technologies,” Eric Benjamin, Insulet’s executive VP of Innovation, Strategy, and Digital Products, told the press. “Bigfoot has made valuable contributions to the industry through many years of research and development in these fields and we are thrilled to acquire these assets. Insulet has substantially strengthened its IP portfolio organically over the past few years. And with this acquisition, we approximately double our already strong IP portfolio.”
 
Insulet’s Omnipod 5 delivers insulin through a pump that connects to and communicates with a continuous glucose monitor (CGM). Connected injection support tech like Bigfoot Unity use smart pen caps for dose suggestions based on CGM data. Depending on the needs of the diabetes patient, one option may be more fitting than the other.
 
“Our history of innovation in insulin delivery has helped us simplify the complexities for this population, by eliminating the anxious guesswork out of daily insulin dose management,” said Jeffrey Brewer, CEO of Bigfoot Biomedical. “We’ll remain focused on commercializing connected injection support technologies and know Insulet can benefit from our patents to bring life-changing pump innovation to people with diabetes in parallel. Expanding innovation is our goal, and this transaction will help bring powerful technologies to the people who need it most.”