Insulet acquires assets of Automated Glucose Control for $25M

Insulet announced it has acquired the assets of Automated Glucose Control, a company in Palo Alto, California focused on developing and commercializing best in class automated insulin delivery technology. AGC and Insulet entered into a license agreement and partnership in 2016 based on patents and other intellectual property that AGC had licensed from the Dr. Francis J. Doyle III laboratory at the University of California, Santa Barbara. The two co-founders of AGC, Dr. Jennifer Schneider and Dr. Thomas Peyser, consulted with Insulet with respect to the licensed technology as part of Insulet’s development of its Omnipod 5 Automated Insulin Delivery system. Insulet paid $25M for the acquisition of AGC’s assets, which include the license from the University of California and other intellectual property.