Beta Bionic (BBNX) has filed for an IPO.
The company describes itself as follows: “We are a commercial-stage medical device company engaged in the design, development and commercialization of innovative solutions aimed at improving the health and quality of life of people with diabetes requiring medical treatment. insulin (PDI) using advanced adaptive closed-loop algorithms to simplify and improve their disease treatment Diabetes is a serious, chronic and often lifelong disease with no known cure, characterized by prolonged periods of high blood glucose levels. blood, or hyperglycemia, resulting from incapacity of the body to effectively produce or use the hormone insulin To treat their diabetes, IDPs must follow a rigorous regimen of daily insulin replacement, because high blood glucose levels over time can lead to cardiovascular complications. , serious and often fatal metabolic and nervous disorders Despite decades of innovation that have advanced the quality of care available, a significant need remains unmet as the vast majority of IDPs still fail to effectively manage their diabetes. Our product, the iLet Bionic Pancreas (iLet), is the first insulin delivery device cleared by the U.S. Food and Drug Administration (FDA) to use closed-loop adaptive algorithms to autonomously determine each dose of insulin without requiring the user to count carbohydrate intake. We believe this marks a significant advancement over other insulin delivery technologies by providing a differentiated combination of improved glycemic control and a greatly simplified experience for users and caregivers.”
BofA Securities, Piper Sandler and Leerink Partners will act as lead underwriters.
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