GERMANTOWN, Md.--(BUSINESS WIRE)--Senseonics Holdings, Inc. (NYSE-American: SENS), a medical technology company focused on the development and commercialization of transformative glucose monitoring products, and Beta Bionics, a medical technology company leveraging machine learning artificial intelligence to develop and commercialize the world’s first autonomous bionic pancreas, today announced that they have entered into a development agreement to integrate glucose data from the Eversense® Continuous Glucose Monitoring (CGM) system into the iLet Bionic Pancreas system.
The Eversense CGM system is a long-term, implantable continuous glucose monitoring system that continually measures interstitial fluid glucose levels and wirelessly sends the readings to a smartphone application. The iLet Bionic Pancreas system is a dual-chamber, autonomous, infusion pump that mimics a biological pancreas by automatically and autonomously adapting insulin and glucagon dosing to meet the individual needs of a person with diabetes.
“We are very excited to partner with Beta Bionics to integrate our long-term glucose sensor with the bionic pancreas system,” said Tim Goodnow, President and CEO of Senseonics. “The combination of these two technologies could create a unique option for increased simplicity, convenience and confidence in diabetes management. We are pleased to be working with the Beta Bionics team as they advance a real breakthrough for people with diabetes.”
“Senseonics has generated impressive clinical data demonstrating the remarkable accuracy of their Eversense CGM system and providing a categorically different CGM alternative for people with diabetes,” said Ed Damiano, President and CEO of Beta Bionics. “We believe that only highly accurate, reliable and safe sensors are suitable for driving automated insulin delivery systems. Based on clinical data from multiple clinical studies, the Eversense CGM system appears to meet these high standards. We are excited to partner with Senseonics to help make the iLet Bionic Pancreas system a platform of choice for people with diabetes – one that will ultimately allow people to choose between multiple CGMs, to choose between multiple insulin types, and to choose glucagon.”
Under this development agreement, Beta Bionics will work with Senseonics to integrate the Eversense CGM system with the iLet, so that real-time Eversense data may serve as one CGM option to drive the fully autonomous iLet Bionic Pancreas system.
Senseonics Holdings, Inc. is a medical technology company focused on the design, development and commercialization of glucose monitoring products designed to help people with diabetes confidently live their lives with ease. Senseonics’ first generation continuous glucose monitoring (CGM) system, Eversense®, includes a small sensor, smart transmitter and mobile application. Based on fluorescence sensing technology, the sensor is designed to be inserted subcutaneously and communicate with the smart transmitter to wirelessly transmit glucose levels to a mobile device. After insertion, the sensor is designed to continually and accurately measure glucose levels. For more information on Senseonics, please visit www.senseonics.com.
About Beta Bionics
Beta Bionics is a for-profit Massachusetts public benefit corporation founded in 2015 to commercialize the iLet, a revolutionary bionic pancreas that is driven by machine-learning mathematical dosing algorithms, which incorporate artificial intelligence to autonomously control glycemia. These dosing algorithms were developed in the Damiano Lab at Boston University and refined based on results from home-use clinical trials in adults and children with T1D. Beta Bionics is a Certified B Corporation™ whose founders—in addition to Ed Damiano—include other parents of children with type 1 diabetes. Beta Bionics is committed to acting in the best interests of the diabetes community and to profoundly disrupting the diabetes medical device industry by bringing the iLet to market as expeditiously and responsibly as possible. Beta Bionics is pursuing regulatory approval of its insulin-only bionic pancreas, which will be followed by its dual-hormone system that will also administer a glucagon analog in order to raise blood-sugar levels without the need to consume carbohydrates.
Beta Bionics is headquartered in Boston, Massachusetts with certain operations in Irvine, California. For further information, please visit www.betabionics.com or follow Beta Bionics Facebook, YouTube, Instagram, LinkedIn and Twitter @BetaBionics.
Forward Looking Statements
Certain statements contained in this press release, other than statements of fact that are independently verifiable at the date hereof, may constitute “forward-looking statements.” These forward-looking statements reflect Senseonics’ current views about its plans, intentions, expectations, strategies and prospects, including statements concerning the potential integration of the Eversense CGM system with Beta Bionics’ Bionic Pancreas and the potential benefits to patients of the combination of these technologies. Although Senseonics believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, Senseonics can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond Senseonics’ control. Other risks and uncertainties are more fully described in the section entitled “Risk Factors” in Senseonics’ Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 13, 2018, its Quarterly Report on Form 10-Q filed with the SEC on May 10, 2018 and its other SEC filings. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause Senseonics’ expectations and beliefs to change. While Senseonics may elect to update these forward-looking statements publicly at some point in the future, Senseonics specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law.