|
 DreaMed will receive undisclosed royalties from future sales of each
device using its technology. Medtronic will be responsible for the
development and marketing of the pumps.
The U.S. medical device maker has also invested $2 million in
DreaMed.
DreaMed's GlucoSitter, which is based on the MD-Logic Artificial
Pancreas algorithm, is an automated system for controlling glucose
levels.
It analyses the body's glucose levels and directs the pump to
deliver the correct dose of insulin to the body, mimicking the
behavior of a healthy pancreas. This minimizes the risk of suffering
low and high blood glucose episodes.
"We believe that a fully automated artificial pancreas will provide
greater freedom and better health for many people with diabetes by
eliminating some of the burden of glucose management," said
Alejandro Galindo, general manager of the intensive insulin
management business at Medtronic.
The global market for products to manage diabetes stands at $41
billion and is estimated to surpass $114 billion by 2018.
Insulin-dependent patients represent half of this market.
[to top of second column] |
(Reporting by Tova Cohen; Editing by Pravin Char)
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