ELKTON, Md., Dec. 5, 2019 /PRNewswire/ -- W. L. Gore & Associates, Inc. (Gore), today announced an investment into PhysioLogic Devices, Inc., a startup which is developing an implantable intraperitoneal insulin delivery system aimed at improving insulin therapy for over 12 million individuals worldwide with Type 1 diabetes. This investment will provide supplemental funding to allow PhysioLogic to reduce key challenges associated with implantable micropumps and actuators and enable PhysioLogic's development goals for the upcoming years.
An essential part of the system that PhysioLogic is developing is an implanted catheter for intraperitoneal insulin delivery. Independently, Gore will apply its material science expertise to resolve obstructions that can occur in these catheters.
This investment in PhysioLogic was realized through Gore's Micro-Equity Investment (MEI) program. Gore created the MEI program to further support its goals of partnerships and collaborative ideation efforts, and to accelerate the development of new technologies and business models with startups. The MEI program offers investments of up to $500,000 to early stage companies in support of joint development agreements (JDA) and collaborations.
"Gore recognizes the benefit of collaborating and investing in startups as a way to expand our business and technology portfolio," said Mila Ristic-Lehmann, an innovation leader at Gore. "Presently, there is a recognized need for automated, unobtrusive, and more physiological insulin delivery systems worldwide.
By investing in PhysioLogic and leveraging Gore's 60+ years of material science competence to solve the problem with intraperitoneal catheter obstruction, Gore believes it has the potential to contribute to the future of safely implanted diabetes management devices."
"Overcoming catheter obstructions plays an important role in the development of intraperitoneal insulin delivery systems," said Greg Peterson, CEO of PhysioLogic. "We look forward to the opportunity to collaborate with Gore to solve this technical challenge based on Gore's material science capability and develop a system that offers our life-changing treatment to millions of individuals living with insulin-requiring diabetes."
About PhysioLogic Devices
PhysioLogic Devices is a company dedicated to transforming the treatment of insulin-requiring diabetes through advanced implantable products. PhysioLogic's technology fully automates glucose control with an implantable pump that delivers insulin to the intraperitoneal space for uptake by the liver normalizing glucose physiology. The implantable pump connects to a continuous glucose sensor that automatically adjusts the insulin dose eliminating the burden of living with diabetes. PhysioLogic's leadership has a successful track record of developing commercially available implantable devices including insulin pumps. physiologicdevices.com
W. L. Gore & Associates is a global materials science company dedicated to transforming industries and improving lives. Since 1958, Gore has solved complex technical challenges in demanding environments — from outer space to the world's highest peaks to the inner workings of the human body. With more than 10,500 Associates and a strong, team-oriented culture, Gore generates annual revenues of $3.7 billion. gore.com
SOURCE W. L. Gore & Associates