Insulet Corporation, the company behind OmniPod Insulin Management System, 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 (“PDM”). Currently OmniPod PDM’s use Abbott’s FreeSyle test strips.
Insulet has commenced development efforts on a new PDM which is expected to be commercialized in 2013. The new integrated PDM will work with the next generation OmniPod, which is currently awaiting 510(k) clearance.
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.