en.Wedoany.com Reported - MiniMed (a Medtronic diabetes technology spin-off) disclosed during its first earnings call since going public in March on Wednesday that the company is advancing its sensor collaboration with Abbott, launching a new generation of insulin pumps, and progressing its separation from Medtronic.
MiniMed stated it will expand its existing partnership with Abbott. Abbott currently produces a dedicated continuous glucose monitor called Instinct for MiniMed, and the two companies plan to jointly develop a glucose-ketone dual-function sensor for integration with MiniMed's smart drug delivery system. Abbott obtained CE marking for this dual-function sensor in Europe last week, but the device has not yet received approval from the U.S. Food and Drug Administration (FDA).
On the product line front, MiniMed is launching new insulin pumps and diabetes management software. The MiniMed Flex, approved in March, is a smaller durable insulin pump. CEO Que Dallara stated during the call that the device will be launched later this month. The company introduced MiniMed Go in the U.S. last week, a system suitable for multiple daily injections that combines a smart insulin pen with a glucose sensor. MiniMed is also developing its first insulin patch pump to compete with Insulet and other companies involved in this technology. Dallara expects to submit the patch pump application to the FDA this fall, with a planned commercial launch next year, and will expand production capacity before the launch.
MiniMed is developing the Vivera algorithm, an automated insulin delivery algorithm that eliminates the need for meal announcements or carbohydrate counting. Dallara said the company began recruiting participants for a pivotal U.S. trial in February and has already reached half of its target enrollment. "We are in the midst of a comprehensive product line transformation," the CEO stated, adding that MiniMed's current focus is on building the products patients have been requesting.
CFO Chad Spooner also provided updates on MiniMed's separation from its former parent company. MiniMed currently has approximately 160 transition service agreements with Medtronic and expects to exit most of these agreements by 2027.
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