"JDRF is excited to partner with Pacific Diabetes Technologies to help advance infusion set technology that could improve the lives of people living with type 1 diabetes," said Vincent Crabtree, director of Research Business Development at JDRF. "The T1D community is looking forward to advances in their CGM devices that can improve their ability to maintain glucose control safely and conveniently, and JDRF is committed to enabling that type of next-generation technology."
"This investment will allow PDT to continue development of our novel glucose monitoring infusion set. Due to the long timelines and expensive regulatory process, finding financial support for medical device startups like ours can be challenging," said Robert Cargill, president and CEO of PDT. "This JDRF funding provides critical support as we move our technology into human feasibility trials and prepare our products for market. Partnerships like this and support from the NIH help to propel innovative life sciences ideas out of the research lab and into the hands of consumers."
CGM has been shown to improve glycemic control both in type 1 and type 2 diabetes. The technology employs a small subcutaneous sensor that measures the user's glucose concentration in real-time. These systems can then alert the user to conditions of hyper- or hypoglycemia, enabling them to take the fastest possible corrective action. "CGM offers many benefits to both patient and payer, reducing complications, lowering the cost of diabetes care and improving overall patient health," said Dr. W. Kenneth Ward, Chief Science Officer of PDT. "Unfortunately, the uptake of CGM systems has been hampered by the added cost and inconvenience to the patient. By combining CGM functionality with insulin infusion in one convenient solution, we hope to significantly increase the adoption of this essential therapy."
PDT has secured more than $5 million in funding through a combination of grants from JDRF, the National Institute of Diabetes and Digestive and Kidney Health, and The Leona M. and Harry B. Helmsley Charitable Trust.
JDRF is the leading global organization funding type 1 diabetes (T1D) research. Our mission is to accelerate life-changing breakthroughs to cure, prevent and treat T1D and its complications. To accomplish this, JDRF has invested nearly $2 billion in research funding since our inception. We are an organization built on a grassroots model of people connecting in their local communities, collaborating regionally for efficiency and broader fundraising impact, and uniting on a national stage to pool resources, passion, and energy. We collaborate with academic institutions, policymakers, and corporate and industry partners to develop and deliver a pipeline of innovative therapies to people living with T1D. Our staff and volunteers throughout the United States and our six international affiliates are dedicated to advocacy, community engagement and our vision of a world without T1D. For more information, please visit jdrf.org or follow us on Twitter: @JDRF.
Pacific Diabetes Technologies is a Portland, Oregon-based medical device company developing advanced insulin delivery technologies for patients with type 1 and type 2 diabetes. Launched in 2013, the company has combined its flexible glucose sensor with an insulin infusion set, yielding the world's first true single-port solution for people using an insulin pump. PDT is presently preparing its first IDE submission to the Food & Drug Administration in order to seek approval to test the device in people within the next 6-12 months.
Logo - http://photos.prnewswire.com/prnh/20150211/175060LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jdrf-announces-industry-development-and-discovery-partnership-with-pacific-diabetes-technologies-300311407.html