BILLERICA, Mass., Jan. 11, 2016 /PRNewswire/ -- Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the leader in tubeless insulin pump technology with its OmniPod® Insulin Management System (OmniPod System), today announced it has entered into a development agreement with Eli Lilly and Company (Lilly) to develop a new version of Insulet's OmniPod tubeless insulin delivery system, specifically designed to deliver Lilly's Humalog 200 units/mL insulin. Humalog U200 is a concentrated form of insulin used by higher insulin-requiring patients with diabetes that provides the same dose of insulin in half the volume of Lilly's Humalog U100 insulin. Insulet is partnering with Lilly on a clinical development program designed to evaluate the use of the Humalog U200 insulin formulation in Insulet's leading OmniPod tubeless insulin delivery system.
With a growing population of diabetes patients worldwide requiring higher total daily doses of insulin, this new version of the OmniPod tubeless insulin delivery system will be the first insulin pump designed specifically to deliver Humalog U200 insulin. This new delivery system represents an opportunity for diabetes patients with higher insulin requirements to benefit from the improved glycemic control compared to multiple daily injections and ease of use that Insulet's OmniPod System provides.
"We are thrilled to partner with Lilly to develop the first insulin pump specifically designed for Humalog U200 insulin," said Patrick Sullivan, Chief Executive Officer. "This partnership allows Insulet to deliver the advantages of our OmniPod System to individuals worldwide with higher insulin requirements so they can better control their diabetes. Using Humalog U200 in OmniPod's tubeless design effectively doubles the number of insulin units available to users in a single pod. This will provide the freedom and ease of use of our OmniPod System to a broader range of individuals living with diabetes."
About the OmniPod Insulin Management System:
The OmniPod Insulin Management System is a unique and discreet insulin delivery system designed to provide people living with diabetes the freedom and simplicity that conventional "tubed" insulin pumps and multiple daily injections cannot provide. The OmniPod System consists of two components: (i) a Pod that stores and delivers insulin; and (ii) a Personal Diabetes Manager (PDM) that wirelessly programs the user's personalized insulin delivery, calculates suggested doses and insulin on board, and has a convenient, built-in blood glucose meter. The small, light-weight Pod can be worn in multiple locations, including the abdomen, hip, back of upper arm, upper thigh or lower back and, because it is waterproof (IPX8), there is no need to remove it when showering, swimming or performing other activities. This means that OmniPod can provide up to three days of non-stop insulin delivery without the need to disconnect a tube set or manually inject insulin. The Pod and PDM communicate wirelessly to offer precise, personalized and continuous insulin delivery with customizable basal and bolus delivery options, as well as important safety checks. The Pod's cannula insertion is quick, simple, and virtually pain-free. The user simply pushes a button on the PDM and the Pod's automated insertion system inserts the cannula beneath the skin and begins delivering insulin according to the user's programmed basal rate.
The OmniPod System is the world's first commercially available tubeless insulin delivery system that allows patients to live untethered to a tubed pump or a daily injection schedule. By breaking down the barriers to insulin pump therapy, the OmniPod System offers freedom for users to live life on their own terms and with the ease of use they deserve.
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD) is an innovative medical device company dedicated to making the lives of people with diabetes easier. Through its OmniPod Insulin Management System, Insulet seeks to expand the use of insulin pump therapy among people with insulin-dependent diabetes. The OmniPod is a revolutionary and easy-to-use tubeless insulin pump that features just two parts and a fully-automated cannula insertion. Insulet's Delivery Systems business also partners with global pharmaceutical and biotechnology companies to tailor the OmniPod technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas. Insulet's subsidiary, Neighborhood Diabetes, is a leading distributor of diabetes products and supplies, delivered through a high touch customer service model. To read inspiring stories of people with diabetes living their lives to the fullest with OmniPod, visit the Company's blog: http://suited.myomnipod.com. Founded in 2000, Insulet Corporation is based in Billerica, Massachusetts. For more information, please visit: http://www.myomnipod.com.
This press release may contain forward-looking statements concerning Insulet's expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on its current expectations and beliefs concerning future developments and their potential effects on Insulet. There can be no assurance that future developments affecting Insulet will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond its control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, and other risks and uncertainties described in its Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February 26, 2015 in the section entitled "Risk Factors," and in its other filings from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of its assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Insulet undertakes no obligation to publicly update or revise any forward-looking statements.
Investor Relations and Media Contact:
Deborah R. Gordon
Vice President, Investor Relations and Corporate Communications
SOURCE Insulet Corporation