Tandem Diabetes Care and TypeZero Technologies Announce License Agreement to Accelerate Development and Commercialization of Closed-Loop Artificial Pancreas System
SAN DIEGO--(BUSINESS WIRE)--
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and
manufacturer of a family of innovative touchscreen insulin pumps, and
TypeZero Technologies, LLC, a digital health and personalized medicine
company, today announced that they have entered into a License Agreement
allowing Tandem to integrate TypeZero's artificial pancreas ("AP")
technology into a next-generation t:slim® Insulin Pump. TypeZero's AP
technology includes a series of treat-to-target algorithms developed by
TypeZero from initial research conducted at the University of Virginia.
To date, this technology has been used in more than 28 clinical studies
including more than 475 participants, with data referenced in a number
of journal articles.1
"This agreement with TypeZero is a significant step in our shared vision
to bring a best-in-class, closed-loop artificial pancreas system to the
diabetes community as quickly as possible," said Kim Blickenstaff,
president and CEO of Tandem Diabetes Care. "We look forward to working
with TypeZero on this project to deliver simple-to-use AP solutions that
can improve treatment outcomes for people with diabetes."
"Partnering with Tandem to deliver an artificial pancreas device that
leverages Tandem's deep expertise in user-centered design and human
factors research is very exciting for the future of diabetes
management," said Chad Rogers, founder and CEO of TypeZero Technologies.
"We believe that bringing our artificial pancreas technology together
with Tandem's innovative insulin pump platform will revolutionize the
way patients manage their diabetes."
The terms of the License Agreement between Tandem and TypeZero include a
worldwide, non-exclusive license for the use of TypeZero's AP technology
in future Tandem products. The agreement also provides Tandem access to
TypeZero's future AP innovations over the next five years. The two
companies plan to work together closely to expedite the clinical
research associated with the development of Tandem's closed-loop AP
system. The terms of the License Agreement also anticipate that a
research version of Tandem's t:slim Insulin Pump will be used alongside
TypeZero's AP technology in the International Diabetes Closed Loop Trial
(IDCL) scheduled to commence later this year, which is funded by the
National Institute of Health (NIH), a part of the U.S. Department of
Health & Human Services.
Financial details of the agreement have not been disclosed.
About TypeZero Technologies
TypeZero Technologies is a digital health and personalized medicine
company that is revolutionizing the treatment and management of Type 1
and Type 2 diabetes. As the world leader in clinically tested artificial
pancreas solutions, TypeZero is combining next generation data science
techniques with proven metabolic models to develop personalized
analytics and advanced control solutions that improve the lives and
health outcomes for diabetes patients. Current products include
closed-loop artificial pancreas solutions, therapy optimization and
advisory applications for smart insulin pens (Type 1 and Type 2) as well
as clinician tools to support healthcare professionals in managing
insulin dependent diabetes. TypeZero is a rapidly growing, private
company backed by angel investors and early stage venture capital. To
learn more, visit www.typezero.com
or follow on Twitter @typezerotech and on Facebook at www.facebook.com/typezerotech.
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com)
is a medical device company with an innovative, user-centric and
integrated approach to the design, development and commercialization of
products for people with diabetes who use insulin. The Company
manufactures and sells the t:slim® Insulin Pump, the slimmest and
smallest durable insulin pump currently on the market, the t:flex®
Insulin Pump, the first pump designed for people with greater insulin
requirements, and the t:slim G4™ Insulin Pump, the first CGM-enabled
pump with touch-screen simplicity. Tandem is based in San Diego,
Follow Tandem Diabetes Care on Twitter @tandemdiabetes, use #tslim,
#tslimG4, #tflex, #tconnect, and $TNDM.
Follow Tandem Diabetes Care
on Facebook at www.facebook.com/TandemDiabetes.
Tandem Diabetes Care on LinkedIn at https://www.linkedin.com/company/TandemDiabetes.
t:slim, t:flex and Tandem Diabetes Care are registered trademarks, and
t:slim G4 is a trademark of Tandem Diabetes Care, Inc.
Forward Looking Statement
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that
concern matters that involve risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected
in the forward-looking statements. These forward-looking statements
relate to, among other things, (i) the License Agreement to integrate
TypeZero's AP technology into a future generation Tandem insulin pump,
(ii) the goal of bringing such an integrated system to the diabetes
community, (iii) the potential of such an integrated system to
revolutionize the way people manage their diabetes and improve treatment
outcomes for people with diabetes, (iv) Tandem and TypeZero's plans to
work together closely to expedite the clinical research associated with
the development of Tandem's closed-loop AP system, (v) the possibility
that TypeZero will produce innovations over the next five years that
Tandem can access, and (vi) the expectation that a research version of
Tandem's t:slim Insulin Pump will be used alongside TypeZero's AP
technology in the International Diabetes Closed-Loop Trial. Tandem's
actual results may differ materially from those indicated in these
forward-looking statements due to numerous risks and uncertainties,
including: risks associated with the development of new products
generally, including possible delays in the Company's product
development programs; possible future actions of the FDA or any other
regulatory body or governmental authority, including the potential that
the FDA may not agree with Tandem's proposed pathway for regulatory
approval; the potential that Tandem's License Agreement with TypeZero
could be terminated; the potential that other products or technological
breakthroughs for the treatment of diabetes could make Tandem's products
obsolete or less desirable, as well as other risks identified in
Tandem's most recent Annual Report on Form 10-K and Quarterly Report on
Form 10-Q, and other documents that Tandem files with the Securities and
Exchange Commission. Investors are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date of
this release. Tandem undertakes no obligation to update or review any
forward-looking statement in this press release because of new
information, future events or other factors.
1 Recent Publications Highlighting Research Using TypeZero AP
Ly T, Buckingham B, DeSalvo et al. Day-and-Night Closed-Loop
Control Using the Unified Safety System in Adolescents With Type 1
Diabetes at Camp. Diabetes Care. 2016 DOI: 10.2337/dc16-0817
Anderson S, Raghinaru D, Pinsker J, et al. Multinational Home Use
of Closed-Loop Control Is Safe and Effective. Diabetes Care.
2016 Jul;39(7):1143-50. DOI: 10.2337/dc15-2468. Epub 2016 Apr 13.
Boris P. Kovatchev, Eric Renard, Claudio Cobelli, et al. Safety of
Outpatient Closed-Loop Control: First Randomized Crossover Trials
of a Wearable Artificial Pancreas. Diabetes Care. 2014 Jul;
View source version on businesswire.com: http://www.businesswire.com/news/home/20160721005412/en/
Tandem Diabetes Care, Inc.
Morrison, 858-366-6900 x7005
Source: Tandem Diabetes Care, Inc.
News Provided by Acquire Media
Close window | Back to top