ISSOIRE, France and GRENOBLE, France and PARIS, March 22, 2021 /PRNewswire/ -- BIOCORP (FR0012788065 - ALCOR / Eligible PEA PME), a French company specialized in the development and manufacturing of medical devices and connected solutions in the health sector and Diabeloop, a young company, pioneer in therapeutic artificial intelligence with personalized and automated solutions for the management of diabetes treatment, announce today a cooperation agreement. This collaboration aims to unite the expertise of both companies to offer new, simple and personalized treatment options to people living with diabetes.
Diabeloop has developed Automated Insulin Delivery (AID) systems including a self-learning algorithm hosted in a dedicated handset and connected to a Continuous Glucose Monitoring (CGM) solution and an insulin pump. The artificial intelligence developed by Diabeloop analyzes glucose data, calculates the right dose of insulin to be administered and automatically administers it.
For its part, BIOCORP has developed and markets Mallya, an intelligent sensor for insulin injection pens, and the first in its class to receive CE marking (class IIb). Compatible with any disposable insulin pens, it enables reliable monitoring of doses selected for injection and offers patients with diabetes better compliance with their treatment.
Through this agreement and the integration of Mallya into Diabeloop's technological environment, patients equipped with insulin pens will benefit from a unique, easy-to-use and personalized solution to improve their quality of care and life on a daily-basis.
Eric Dessertenne, CEO of BIOCORP, explained: "We are very pleased to combine our R&D capabilities with the common ambition to improve the quality of care for patients with diabetes.. The technological platform developed by Diabeloop in the field of insulin pumps, which reproduces the functioning of the pancreas thanks to AI, has real potential in the insulin pen market. Insulin-dependent people, users of these pens, are indeed looking for digital services that are increasingly rich in information and advice for better compliance with their insulin intake".
Marc Julien , co-CEO of Diabeloop, added: "We are delighted with this agreement with Biocorp, a partner with great expertise. This cooperation opens up new opportunities to bring Diabeloop's simple and personalized interoperable technology to people living with diabetes who use insulin pens to perform their multiple insulin injections every day".
The disposable insulin pen market is estimated to be worth more than $9 billion by 2022 in the top 10 markets (United States, France, Germany, Italy, Spain, United Kingdom, Japan, China, India and Brazil)1.
Diabeloop's mission: to relieve people living with Type 1 diabetes from dozens of therapeutic decisions and reduce their heavy mental burden. Initially conceived from a medical research project, Diabeloop was created in 2015 by Dr. Guillaume Charpentier, now Chief Medical Officer, and Erik Huneker who has co-managed the company with Marc Julien since 2016. This complementary management team works with experienced partners, CEA-Leti (a research laboratory) and CERITD (a French research team of diabetologists).
In 2018, DBLG1® System, Diabeloop's first medical device for automated diabetes management, obtained CE marking, followed by DBL-hu, its solution for highly unstable Type 1 diabetes management in 2020.
A second round of financing of 31 million euros concluded in November 2019 to speed up the international commercial rollout of the DBLG1® iController and support an ambitious R&D program.
The company is supported by several investors and industrial groups in the healthcare sector, including CERITD, Aliad, Cemag Invest, Sofimac Innovation, Supernova Invest, Kreaxi, Crédit Agricole, Odyssée Venture, Agiradom, as well as business angels.
Today, Diabeloop gathers the personality, the passion and the skills of close to 100 talented individuals who work hard to improve the quality of life for every person living with Type 1 diabetes.
Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This smart sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of patients with diabetes. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 70 employees. BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR).
For more information, please visit www.biocorpsys.com.
1Global Diabetes Disposable Insulin Pen Market Report: Country Outlook, Analysis, Size, Share and Forecast 2017 – 2022 - WiseGuyReports
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SOURCE Diabeloop; BIOCORP