It simplifies the insulin delivery process and brings convenience to diabetics.
According to foreign mediaFinSMEs reported that the United States Bigfoot Biomedical completed a $55 million Series C financing, led by Abbott, and has investors Quadrant Capital Advisors, Senvest Capital, Janus Henderson and Cormorant Asset Management, and new investor Smile Group participated.
Bigfoot Biomedical is a medical equipment company, founded in 2014, headquartered in California, United States, co-founded by Bryan Mazlish, Jeffrey Brewer, Jon Brilliant and Lane Desborough, provides an artificially intelligent insulin injection system for diabetes requiring insulin Patients provide services.
The funds obtained from this round of financing will be used to complete the product development of the Bigfoot Unity™ system and FDA approval. Bigfoot Unity™ is a real-time dose integrated system for diabetic patients who require insulin. The system also integrates Abbott FreeStyle Libre platform. Unpredictable fluctuations in blood sugar make diabetes management face many challenges. Bigfoot Biomedical is really targeting this pain point to develop an artificial intelligence insulin delivery system.
Bigfoot Biomedical products
Bigfoot Biomedical’s artificial intelligence insulin delivery system mainly includes Bigfoot Loop and Bigfoot Inject. Bigfoot Loop is a fully automated closed-circuit insulin delivery system based on an infusion pump, which connects a continuous blood glucose monitoring device to an insulin pump, and injects the appropriate amount of insulin in time when needed ;Bigfoot Inject is an artificial intelligence device composed of an automated dose titration device connected to an insulin pen.
Bigfoot Biomedical’s integrated system simplifies the insulin delivery process for patients with type 1 and type 2 diabetes. With the Bigfoot Unity smart pen cap, patients and healthcare providers will be able to view Share glucose readings and recommend insulin dosage to improve daily diabetes management.
Previously, Bigfoot Biomedical had completed four rounds of financing, each raising $2 million in seed round financing in November 2014, and received $35.5 million A in October 2016. For round financing, a USD 37 million Series B round of financing was completed in December 2017, and a USD 18 million Series B round of financing was completed on March 21, 2018.