Beta Bionics, a Concord, MA-based company which specializes in the development of diabetes management solutions, raised $100M in Series D funding.
The round was co-led by new investors Sands Capital and Omega Funds with an additional new investor, Marshall Wace. Previous investors Soleus Capital, Eventide Asset Management LLC, Farallon Capital, Perceptive Advisors, certain funds managed by RTW Investments, LP, ArrowMark Partners, and Pura Vida Investments also participated.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Sean Saint, Beta Bionics is a medical technology company focused on the design, development, and commercialization of its iLet Bionic Pancreas, an autonomous insulin delivery system that streamlines diabetes management and reduces the burden on patients and physicians, in both the single hormone and bi-hormonal configurations. The iLet Bionic Pancreas platform is designed to use adaptive, self-learning, control algorithms, together with continuous glucose monitoring and pump technology, to autonomously compute and administer doses of insulin and/or glucagon and mimic the body’s natural ability to maintain tight glycemic control, relieving some of the burden of living with diabetes.
Beta Bionics is a for-profit, public benefit corporation and Certified B Corporation.
FinSMEs
01/09/2023