Summary:
Abbott is on the verge of acquiring Bigfoot Biomedical, a pioneer in diabetes technology management. This move comes after a longstanding collaboration between the two companies, with Abbott having previously invested in Bigfoot’s funding rounds in both 2018 and 2020.
Bigfoot’s flagship product, the «smart» insulin pen cap known as Bigfoot Unity, plays a pivotal role in this acquisition. This innovative cap is designed to gather data from a user’s continuous glucose monitor (CGM) and provide insulin dosage recommendations based on real-time blood sugar readings. Notably, the Bigfoot Unity system is exclusively tailored to work in tandem with Abbott’s FreeStyle Libre 2 CGM, which received FDA clearance in 2021.
When the Bigfoot Unity cap is tapped against a CGM sensor, it promptly delivers real-time blood sugar readings. These readings are not only displayed on the cap itself but are also accessible via a connected smartphone app, facilitating users in making informed decisions regarding their insulin dosages.
For Abbott, this acquisition represents a strategic move to bolster their efforts in the creation of integrated and personalized solutions for diabetes care. The synergy between these two companies promises to drive innovation and enhance the quality of life for those managing diabetes.
Article written by Andrea Park| Image by Unsplash
06/09/2023
Source:
Fierce Biotech
https://www.fiercebiotech.com/medtech/abbott-tracks-down-bigfoot-biomedical-deal-combine-diabetes-tech