Bigfoot Biomedical announced on January 7th that it has entered into a partnership with Eli Lilly and Company to integrate “Lilly’s insulin products” into its proposed automated insulin delivery pump systems.
The press release, while short on details, did provide the working names of the pump systems Bigfoot is developing (Bigfoot Inject and Bigfoot Loop) as well as the target release date for the pump systems (2020).
A few interesting points to consider when thinking about this press release:
-It also comes on the same day that Lilly announced a deal to acquire Loxo Oncology, a startup focused on genetic therapy for cancer, for $8 billion.
-This comes roughly half a year after Lilly announced it was working to develop its own automated insulin delivery pump system.
-The announcement stated that this was a “non-exclusive cooperation agreement,” which means the company could still be interested in other partnerships.
This is a developing story that we will be following in the coming weeks and months.
You can read the full announcement here.
Update: It was tactfully pointed out that Bigfoot has been using those working names for the proposed pump systems for a couple of years now. We regret somehow being…um…out of the loop. We also regret this pun. -Craig
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