Diabeloop raises €70 million to accelerate international expansion

Diabeloop announced that it brought in €70 million ($75 million) in a Series C round, which included funding from Terumo. The fundraise will go toward accelerating commercial roll-out and the company's international expansion, with CEO Erik Huneker saying the investment recognises "the great opportunities ahead." 

In 2019, Diabeloop raised €22 million ($24 million) in a Series B funding round. The company has launched two closed-loop solutions in Europe; DBLG1 gained the CE mark in 2018 for use in patients with type 1 diabetes and DBL-hu was granted the CE mark in 2020 for the management of highly unstable type 1 diabetes. By connecting a continuous glucose monitoring device and an insulin pump, Diabeloop's algorithms analyse data in real time, enabling automated insulin delivery (AID). It says it is approaching 10,000 equipped patients one year after commercial launch.

Terumo partnership

The company entered into an agreement with Terumo in 2020 to jointly develop Diabeloop's DBLG1 AID solution, which will be integrated with the Japanese firm's MEDISAFE WITH insulin patch pump to help insulin-dependent patients manage their diabetes. That deal, which also gave Terumo exclusive distributor rights for the product in the Japanese market, was extended to a comprehensive strategic partnership agreement in 2021.

On Friday, Diabeloop and SOOIL Development Company announced that they entered into global development and commercial agreements, aiming for clinical trials and commercial launches in the US, Europe and Korea of Diabeloop's DBLG1 AID solution integrated with SOOIL's Dana-i insulin pump.

Don’t want to miss our top stories? Sign up for our free daily newsletter here.