Roche buys insulin patch company
pharmafile | April 13, 2010 | News story | Research and Development | Diagnostics, Roche, diabetes
Roche has acquired insulin delivery specialist company Medingo to consolidate its presence in the diabetes care market.
Medingo, formerly a subsidiary of Israel-based Elron Electronics is currently developing its Solo MicroPump, a semi-disposable insulin dispenser patch.
The acquisition will see Roche will pay Medingo’s shareholders an upfront payment of $160 million as well as up to 25% of the upfront payment in performance-related milestones.
Roche is currently one of the world-leaders in diabetes diagnostic technology, but only has limited presence in drug delivery devices.
Daniel O’Day, chief operating officer, Roche Diagnostics, said: “With this acquisition we will broaden our portfolio of innovative insulin delivery technologies and strengthen our position as a leading player in the diabetes care business.”
David Vidan, General Manager, Medingo, said: “As we share the same vision of providing integrated diabetes management solutions for insulin pump users, Roche to us was the partner of choice to bring our technology to life.”
The Solo MicroPump insulin delivery system consists of two parts: a semi-disposable insulin dispensing patch and a remote control, that allows for discreet personalised insulin delivery.
It combines the functions of a conventional insulin pump with the advantages of the tubeless patch pump technology.
The pump is not currently marketed as it awaits a number of patents but Medingo expects to make a global launch by 2012.
Medingo’s patch is an innovative method in insulin delivery as no other is currently available on the market and removes the need for a manual subcutaneous injection.
Burkhard G. Piper, head of Roche Diabetes Care, said: “Offering an innovative micro patch pump will bring our competence in the area of integrated insulin delivery systems to a broader range of people with diabetes on insulin therapy, providing a greater choice to meet the different individual needs”.
Related Content
InnotiveDx gets £1m grant to advance UTI diagnostics system
InnotiveDx has announced that it has received a £1m grant from Pathways to Antimicrobial Clinical …
University of Birmingham scientists develop new MRI contrast agent
Researchers at the University of Birmingham, UK, have developed a new class of magnetic resonance …
Roche receives CE Mark for blood test to help rule out Alzheimer’s
Roche has been granted CE Mark approval for its Elecsys pTau181 test, the first in …
