Startup Developing the World’s First Bionic Pancreas Raises $50M

Beta Bionics has developed a dual-chamber, autonomous, infusion system that mimics a biological pancreas. Dubbed the iLet Bionic Pancreas System, the system is “embedded with clinically-tested mathematical dosing algorithms that autonomously calculate and dos insulin and/or glucagon as needed, based on data from a continuous glucose monitor,” according to BostInno.

The Boston-based organization also recently completed a $50 million Series B equity financing round. iLet is currently in home-use clinical trials in adults and children with Type 1 diabetes. These trials, performed in collaboration with Boston University and Massachusetts General Hospital (collectively known as the Bionic Pancreas Team), began in 2013. A study, published just last year in The Lancet, tracked adult patients with Type 1 diabetes over two 11-day periods, one using the bionic pancreas and the other using a conventional insulin pump. While the patients used the bionic pancreas their average blood glucose levels were significantly lower compared to the standard treatment and reported fewer hypoglycemic episodes.

“The iLet really is three devices in one and is flexible enough to treat different chronic conditions of glycemic dysregulation,” Edward Damiano said in a statement.

Additional trials and approvals are necessary before this technology will be readily available, however, Damiano and his team are hopeful.