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Beta Bionics

Founded: 2015

Location: Irvine, CA

Employee range: 50 - 200

Funding: $100M D Sep 2023; $57M C Feb 2022

Investors: Sands Capital, Omega Funds, Marshall Wace, Soleus Capital, Eventide Asset Management, Farallon Capital, Perceptive Advisors, ArrowMark Partners, Pura Vida Investments

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Short description:

Artificial Pancreas

Drug notes:

Long description:

Beta Bionics is creating an integrated bionic pancreas system to aid patients with diabetes. Achieving consistent blood glucose levels in type I diabetes is difficult to achieve, causing immense cognitive load and emotional burden for patients. Beta is developing innovative type I diabetes management solutions so that more patients have better access to better solutions. Beta’s solution device, the iLet Bionic Pancreas, is an insulin delivery device. Clinical testing of the iLet Bionic Pancreas is under way - exploratory analyses from a recent Insulin-Only Bionic Pancreas Pivotal Trial have shown consistent glycemic improvements across race, education and income. Long term, Beta hopes to commercialize the product after FDA approval.