Dive Brief:
Insulet has paid Bigfoot Biomedical $25 million for pump-based automated insulin delivery (AID) technologies and patents.
Bigfoot initially aimed to develop a pump- and pen-version of its AID system, but has narrowed its focus in recent years. The company’s prioritization of smart pen caps that pair with continuous glucose monitors created an opportunity to cash out of the pump project.
Insulet, which already sells its own Omnipod line of insulin pumps, framed the Bigfoot deal as a way to double its own intellectual property portfolio and strengthen its market position.
Dive Insight:
Bigfoot acquired the pump technology through its 2015 takeover of Asante Solutions, the manufacturer of the 510(k)-cleared Snap insulin pump. At the time, Bigfoot predicted the acquisition would accelerate the development of its system for managing Type 1 diabetes. However, the startup was focused on injection-based digitized insulin dosing by the time Abbott became the lead investor in Bigfoot’s $45 million series C round in 2020.