Insulet Announces Global Agreement With LifeScan, Inc to Integrate Their OneTouch Blood Glucose Monitoring Technologies Into the OmniPod Insulin Pump
Insulet Corporation (NASDAQ: PODD) today announced it has signed a worldwide agreement with LifeScan, Inc. to integrate LifeScan's OneTouch® blood glucose monitoring technology into the OmniPod Personal Diabetes Manager.
Under the terms of the worldwide agreement, LifeScan will provide its glucose monitoring technology to Insulet who will be responsible for the development, design and approval of the integrated device. The initial term of the agreement will run into 2017 and is non-exclusive. Insulet, however, maintains an exclusivity option to be declared, at its discretion, upon commercialization of the integrated PDM. This option would make LifeScan the exclusive blood glucose monitoring technology integrated into the OmniPod PDM and provide additional compensation to Insulet.
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