| Developers: | Beta Bionics |
| Date of the premiere of the system: | May 2023 |
| Last Release Date: | December 2023 |
| Branches: | Pharmaceuticals, Medicine, Healthcare |
Content |
Main articles
2023
Start of global sales
Beta Bionics' iLet bionic pancreas entered the global market in December 2023. This was announced on January 18, 2024 by the information and analytical, educational project of the Evercare.ru with reference to the Medical Device Network resource.
The global launch of iLet bionic pancreas sales is expected to lead to a restructuring of the diabetes treatment devices market, which includes continuous glucose monitors (CGMs) and insulin pumps. That market was worth $10.6 billion in 2022 and is expected to reach $20.8 billion by 2033, according to data analysis and analytics firm GlobalData.
The iLet bionic pancreas is a self-contained insulin injection (AVI) system that simplifies diabetes control and reduces the burden on patients and healthcare professionals. Thanks to its integration with the DexCom CGM G7 sensor, users can take advantage of the fast and accurate readings of Dexcom sensors and transmitters without the need to take readings by finger punctures. Doctors, in turn, no longer need to determine complex values such as correction factors, insulin-carbohydrate ratio or given basal indicators, since only patient weight data is required for the product to work.
With the iLet bionic pancreatic firmware update, users can also select Dexcom G7 or G6 sensors and switch to those they want to use. While AVI systems still make up a small portion of the overall diabetes device market, the apparent benefits of the device, which does not require much input from diabetes patients, mean it will be in demand and analysts expect interest in these products to grow in the future.
Major players in the insulin pump and CGM segments are Medtronic and Abbott, which together hold about 43% of the market. Since most large companies operating in the insulin pump and CGM segments have also developed their own AVI systems, GlobalData does not expect significant changes in the hierarchy of the diabetes treatment devices market. However, this provides an opportunity for companies occupying smaller areas of the market to succeed as patients begin to increasingly switch from traditional insulin pumps and CGMs to AVI systems.
Although the iLet bionic pancreas is the latest introduced system of its class, other products such as Insulet's Omnipod 5 and Medtronic's MiniMed 780G that function in a similar fashion will be on the market during 2024 and 2025. The development of devices requiring less manual intervention, such as the iLet bionic pancreas, brings this area closer to creating an effectively functioning artificial pancreas that requires virtually no manual action. As companies move forward in building devices with such capabilities, the potential benefits of using them will become increasingly favorable.[1]
Entering the market by attracting $100 million in investments
On August 30, 2023, Beta Bionics announced the launch of the iLet Bionic Pancreas artificial pancreas. It is an autonomous insulin delivery system that simplifies the treatment of diabetes and reduces the burden on patients and doctors. The manufacturer raised $100 million to launch sales of the product in different regions of the world.
The iLet Bionic Pancreas solution uses an adaptive closed-loop algorithm to calculate the insulin dosage for each specific patient. For the system to work, it is enough to indicate only the weight of the person. This eliminates the need for healthcare professionals to manually determine parameters taking into account various data, such as correction factors, carbohydrate content in food, etc. Moreover, over time, a smart algorithm learns to determine a particular patient's individual insulin needs. The system integrates with the Convatec infusion kit.
At the same time, Beta Bionics announced a Series D funding round, during which $100 million was raised. The funds were provided by new investors Sands Capital, Omega Funds and Marshall Wace. In addition, former investors Soleus Capital, Eventide Asset Management LLC, Farallon Capital, Perceptive Advisors and funds managed by RTW Investments, LP, ArrowMark Partners and Pura Vida Investments participated in the financing program. The money received will be used to further develop and commercialize technologies. In particular, it is planned to develop and test the so-called bigormonal bionic pancreas.
We are pleased to support the Beta Bionics team in their work to create and bring revolutionary solutions to the commercial market that improve the quality of life for diabetes patients, "said Parker Cassidy, partner at Sands Capital Ventures.[2]
Insulin system announcement
On May 22, 2023, Beta Bionics announced the release of the iLet Bionic Pancreas system for diabetics. This is said to be the first solution on the market that can almost completely automate the calculation of the dosage of insulin and the process of its supply to the body.
It is noted that insulin pumps usually require a setting that includes determining the amount of carbohydrates in the diet. However, counting the corresponding indicator can be difficult, since it is quite difficult to control the individual food preferences of patients. The iLet Bionic Pancreas system solves this problem.
To work with the new device, it is enough to indicate the weight of a person, as well as set one of three levels of carbohydrates in food: low, medium and high. Then a special adaptive learning algorithm comes into play, which automatically determines the necessary dosage of the drug. Thus, there is no need for independent calculations, for entering correction factors and specifying other parameters.
The iLet Bionic Pancreas system functions in conjunction with the Dexcom G6 continuous glucose monitoring complex. This tandem, according to the developer, significantly increases the quality of life of patients and reduces the risk of complications in the long term. The novelty also reduces the burden on medical workers.
 | Unique iLet algorithms independently determine the dosage of insulin, taking into account the individual needs of each person. This degree of automation frees medical staff from the need to analyze glucose data to adjust pump parameters, "said Steven Russell, MD, Chief Medical Officer of Beta Bionics.[3] |  |
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |