SAN DIEGO - Modular Medical (TASE:PMCN), Inc. (NASDAQ:MODD), an insulin delivery technology company with a market capitalization of $59.4 million, has announced a partnership with Nudge BG to develop an advanced Automated Insulin Delivery (AID) system. According to InvestingPro data, the company maintains a healthy current ratio of 3.36, indicating strong short-term liquidity despite operating in a capital-intensive development phase. This collaboration aims to introduce a full closed loop AID system that simplifies diabetes management by eliminating the need for mealtime insulin announcements.
The new AID system will integrate Nudge BG's adaptive technology with Modular Medical's MODD1 insulin pump, designed to be user-friendly and cost-effective. The combined technology is expected to adjust insulin delivery in response to continuous glucose monitoring data, thereby reducing the burden on individuals with insulin-requiring diabetes.
Lane Desborough, CEO of Nudge BG and a veteran in AID system development, emphasized the importance of creating a system that automates mealtime insulin delivery, aiming to help users achieve their glycemic goals with less effort. Desborough brings extensive experience to the project, having worked in the field since 2010 and previously serving as Chief Engineer at Medtronic (NYSE:MDT) Diabetes.
Paul DiPerna, President and CTO of Modular Medical, stated that the partnership with Nudge BG aligns with their mission to make diabetes management more accessible and less complex. The company targets the significant portion of potential insulin pump users who find current AID systems too intricate or expensive.
The press release includes forward-looking statements under the Private Securities Litigation Reform Act of 1995, cautioning that the project's success and the integration of the technologies involve risks and uncertainties. These statements should not be seen as guarantees of future performance but as the company's expectations as of the release date.
The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.