DexCom, a developer of continuous glucose monitoring systems for people with diabetes, has acquired TypeZero Technologies for an undisclosed amount.
TypeZero’s offering includes the inControl diabetes management system, designed to provide personalized diabetes management solutions including technology to automatically adjust and regulate insulin delivery.
Dexcom, TypeZero and the University of Virginia have had a longstanding, productive relationship in developing important technologies for diabetes management, including inControl for integration with both automated insulin delivery (AID) and smart pens. The companies share a consistent vision to improve the lives of people with diabetes through innovation.
Dexcom strategy & corporate development executive vice president Steve Pacelli said: “As the first iCGM designated by the FDA, Dexcom again has the opportunity to lead the market for integrated systems for diabetes management. TypeZero is a great fit for Dexcom as we look to deliver a growing set of tools to both our insulin delivery partners and our customers.
“Combined with best-in-class CGM technology, we believe TypeZero’s technology and strong team will accelerate our efforts to further differentiate Dexcom’s portfolio.”
TypeZero’s CEO Chad Rogers said: “The TypeZero team is excited for our next chapter as part of Dexcom. For the last several years, our company has been committed to creating diabetes management products that simplify the life of a person with diabetes. As part of Dexcom, we will continue to embrace the mission to empower people with diabetes through innovation.”
Dexcom currently expects to support the first commercial launch of an AID system using the inControl algorithm in 2019.
The terms of the transaction were not disclosed.
Source: Company Press Release