THERE ARE 1.9 MILLION INDIVIDUALS WITH TYPE 1 DIABETES IN THE US. 100% OF PATIENT POPULATION REQUIRE DAILY INSULIN INJECTION. ONLY 1 OUT OF 3 CURRENTLY USE AN INSULIN PUMP
WE HAVE SEEN INSIDERS PURCHASE OVER 1 MILLION SHARES IN THE PAST 12 MONTHS WITH ZERO SALES
CHECK OUT THE INVESTOR PRESENTATION
*****EXPLOSIVE NEWS JUST ANNOUNCED AFTER HOURS:
Modular Medical Announces FDA Clearance of the MODD1 Insulin Pump
Hello Everyone,
How about today’s profile?
It was a tremendous move, hitting 3.25 after opening at 2.38. It was still chugging up over 3 bucks as the after hours market shut down at 8.
Congrats those who took a bite out of that apple.
Pull up MODD Immediately.
You might remember this one from back in January.
We brought it to your attention at 1.87.
Since then it had been hovering between 1.50 and showing a lot of support closer to 2 bucks.
The company just announced FDA approval after the bell on Wednesday and we saw it rocket up past 2.50 on tremendous interest.
I am certain that there are going to be a lot of eyes watching this one and there is really no telling where it could move to so we are going to keep it front and center, Number 1 on our screen.
Did I mention that the Insiders are excited about this one?
FDA approval puts these guys on the map immediately. Just last year, Medtronic was willing to acquire insulin patch maker EOFlow for $738M before the deal fell through. Now that the approval has been granted, MODD may catch the eyes of some of the big industry players who can easily scale the manufacturing part of the business.
Modular Medical, Inc. (Nasdaq:MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Their mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.”
Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump.
The American Diabetes Association says that “In 2021, 38.4 million Americans, or 11.6% of the population, had diabetes.” It released a report in 2022 that estimated the annual cost of diabetes to be $412.9 billion.
“People with diagnosed diabetes now account for one of every four health care dollars spent in the U.S.” the report noted.
Citing 2020 data from the Centers for Disease Control and Prevention, MODD points out that 3.6 million Americans require daily insulin — that includes 2.9 million who use multiple daily injections (MDI) and 670,000 who use insulin pumps:
(CGM stands for ‘continuous glucose monitors’)
Of those who use MDI, research firm Seagrove Partners has found that about 25% are “almost pumpers” — “meaning that they have considered going on a pump, understand pump therapy benefits, but want something simpler that doesn’t have all the ‘bells and whistles’.”
That’s where MODD expects to come in. The company believes that existing insulin pumps are geared toward “superusers” and are “prohibitive for many to learn and manage.”
The pumps have too many complicated features that most diabetics don’t need. This increases costs and puts them out of reach for many. As the tagline on MODD’s website reads, it aims to provide “diabetes care for the rest of us.”
Modular Medical Announces FDA Clearance of the MODD1 Insulin Pump
- MODD1 is a patch pump for ALL adults with Type 1 and Type 2 diabetes
- Designed to be simpler and more affordable to expand access to diabetes technology for previously underserved communities
- Commercial availability expected in early 2025
SAN DIEGO, CA / ACCESSWIRE / September 4, 2024 / Modular Medical, Inc. (the “Company” or “Modular Medical”) (NASDAQ:MODD), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology, today announced it has received U. S. Food and Drug Administration (“FDA”) clearance to market and sell its MODD1 pump in the United States. With its commercial manufacturing infrastructure substantially established, the Company anticipates the MODD1 should be available for sale in early 2025.
“For too long, the benefits of superior glycemic control achieved by insulin pumps have, due to cost and complexity, been restricted to only the most sophisticated, motivated and well-insured users. The goal of Modular Medical has always been to change this by making diabetes technology accessible and affordable to underserved communities. We seek to make the experience of going ‘on a pump’ simpler and less intimidating and to widen the base beyond the current pump users,” said Jeb Besser, CEO of Modular Medical.
“I want to thank our employees for their hard work and dedication in bringing this product to the market and our shareholders for their ongoing support of the Company. We will continue to deliver on our mission of enabling ‘diabetes care for the rest of us’ and delivering on the needs of all patients and clinicians,” added Paul DiPerna, Chairman and President of Modular Medical.
Modular Medical will hold a conference call to discuss the clearance of the MODD1 pump, as well as next steps and milestones. Details for the conference call will be announced when available.
Modular Medical Announces Conference Call to Discuss FDA Clearance of the MODD1 Insulin Pump
ACCESSWIRE· Modular Medical,
Modular Medical, Inc.
Wed, Sep 4, 2024 at 6:57 PM EDT2 min read
SAN DIEGO, CA / ACCESSWIRE / September 4, 2024 / Modular Medical, Inc. (the “Company” or “Modular Medical”) (NASDAQ:MODD), an insulin delivery system technology company preparing to launch a market expansion product with a more accessible, easier to prescribe, and easier to pay for and live with technology, today announced it will hold a conference call and webcast tomorrow, Thursday, September 5, 2024, at 8:30 a.m. Eastern Time to discuss the U. S. Food and Drug Administration (“FDA”) clearance of its MODD1 pump, as well as next steps and milestones.
Conference Call and Webcast Information
Date: September 5, 2024
Time: 8:30 a.m. Eastern Time (5:30 a.m. Pacific Time)
Conference Call Number: 1-888-506-0062
International Call Number: +1-973-528-0011
Passcode: 914895
Webcast: Click Here
For those unable to listen to the live Web broadcast, an archived webcast will be available on the Company’s investor relations page at www.modular-medical.com. A replay of the conference call will also be available through September 19, 2024, and can be accessed by calling 1-877-481-4010 and using passcode 51238. International callers should dial 1-919-882-2331 and enter the same passcode at the prompt.
Modular Medical Announces Proof-of-Concept Study for Personalized Metabolic Therapy utilizing the MODD1 Platform
ACCESSWIRE· Modular M
Modular Medical, Inc.
Mon, Jul 15, 20244 min read
Pre-clinical study to explore use of MODD1 pump as a delivery system for FDA-approved, short acting peptides, as a personalized alternative for people who discontinue long-acting GLP-1 formulations
SAN DIEGO, CA / ACCESSWIRE / July 15, 2024 / Modular Medical, Inc. (NASDAQ:MODD) (“Modular Medical” or the “Company”), an insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced a proof-of-concept study with Gubra A/S (“Gubra”) in a high-fat, diet-induced obese (“DIO”) mouse model to explore the potential future use of the MODD1 pump platform to assist patients who struggle with tolerability, inconsistent efficacy, and cost of long acting GLP-1 therapies.”A recent study published by Blue Health Intelligence using data from a national dataset of private insurers found that about half of all patients prescribed a GLP-1 drug for weight loss discontinued after the first 12 weeks, with approximately 30% discontinuing in the first four weeks,” commented Jeb Besser, Chief Executive Officer of Modular Medical. “These discontinuations appear to be due to a combination of tolerability, cost, and inconsistent efficacy. We suspect that short-acting peptides may mitigate many of these side effects and dosage swings by better modulating dosage, but these therapies have generally been abandoned as “too difficult to use” because they required multiple doses per day to be effective. We see the potential for such dosing regimes to be greatly simplified and even improved by the use of pump technology to provide both a basal dose and boluses to control hunger. Using Gubra’s gold-standard DIO mouse model, MODD will seek to determine whether an existing FDA approved, short-acting peptide delivered from a pump platform can provide a more personalized and more tolerable solution for patients who found long acting GLP-1 drugs too difficult to tolerate, while delivering comparable glycemic control and weight loss, specifically for people with type 2 diabetes and obesity.”
Michael Feigh, PhD, Vice President, Scientific Research & Sales of Gubra, commented, “We’re happy that our expertise and disease specific models are used in the assessment of Modular Medical’s novel approach to peptide therapy in diabetes and obesity.”
Modular Medical is focused on the delivery of therapeutics using patented technology with greater simplicity, lower cost and a differentiated form factor. “While long acting GLP-1 injectables have shown great results in the management of metabolic disease, we believe this research has the potential to help patients who would otherwise lose out on realizing those important clinical benefits,” commented Paul DiPerna, Chairman and President of Modular Medical. “Our simple to learn platform, basal and bolus features, and large prefill-ready reservoir make the MODD1 an ideal candidate for this potential application, once again furthering our mission of diabetes care for the rest of us.”
INSIDERS ARE CLEARLY “PUMPED” REGARDING THE FUTURE OF THE COMPANY. WE HAVE SEEN OVER 1 MILLION SHARES PURCHASED IN THE PAST 12 MONTHS WITH ZERO SALES.
MODD1 — THE ADVANCED INSULIN PUMP DESIGNED TO OPEN ACCESS
New microfluidics technology allows for low-cost pumping of insulin.
New intuitive design makes the product simple to use and easier to prescribe
90 Day Reusable
3 Day Consumable
*****Products are currently under research and development and are not available for investigational use or sale.
MODD1 SYSTEM WILL TRANSFORM THE USER/PROVIDER EXPERIENCE
EASY START
Free samples at point-ofcare, payer support, refill RX at pharmacy.
One hour training with care provider (telehealth or clinician in office)
Red, yellow and green light system on the pump indicate how it’s working.
When ready for mealtime bolus, press the button on the pump and confirm
Easy to remove simply click it off and put it back on freely (adhesive or strap).
After 90 days, seamlessly transfer settings to the next 90-day pump
EASY TO CONNECT
All data is securely stored on the cloud, easily accessed by clinicians, data access will enable coverage for diabetes management time
MODULAR MEDICAL STANDS OUT FROM THE REST
T1D Insulin Pump Comparisons (US Market)
PRODUCT FEATURES
MODD1
T:SLIM X2
MEDTRONIC 760G
OMIPOD DASH
ManufacturerModular MedicalTandem Diabetes CareMedtronic (MiniMed)InsuletReservoir Size300 units/3mL300 units/3mL300 units/3mL200 units/2mLPump CostPump:$0
3-Day Disposables: $349/mo (PBM Pricing)Pump:$4,200
Disposables: $134/moPump:$4,600
Disposables: $148/moPump:$0
Disposables: $347/mo (PBM Pricing)Monitorable Via Cell PhoneYesNoYesNoExternal Controller RequiredNoNoNoYesCharger/BatteryNo Charger/Single-use disposable battery providedCharger RequiredBattery RequiredHandset Charging RequiredEasy to LearnYesNoNoNoRemove & ReattachYesYesYesNo
MODULAR MEDICAL ANNOUNCES COLLABORATION WITH GLOOKO
SAN DIEGO, CA / ACCESSWIRE / December 21, 2023 / Modular Medical, Inc. (Nasdaq:MODD) (“Modular Medical” or the “Company”), a development-stage, insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced a collaboration agreement with Glooko, Inc., a global leader specializing in connected care and remote patient monitoring for diabetes. Integrating with Glooko will allow clinicians and patients to easily review insulin dosing data from the MODD1 pump, when commercially available. In addition, through Glooko’s platform, Dexcom CGMS users will be able to view their glucose levels in the same accessible format in conjunction with their pump data.
Glooko’s platform has a broad installed base, which has been deployed in over 30 countries and 8,000 clinical locations.
“We are extremely pleased to add the Glooko technology platform to our diabetes care system making it even easier and more cost effective for us to provide this important capability to our clinical and patient base. Glooko’s mission to improve health outcomes of people with chronic conditions through its personalized, intelligent, connected care platform fits perfectly with our vision of providing an easy to use, affordable delivery technology to give more patients access to better care,” said Jeb Besser, CEO of Modular Medical.
About Glooko
Glooko improves health outcomes of people with diabetes and related chronic conditions through its personalized, intelligent, connected care platform. Our proven technologies make lives better by revolutionizing the connection between patients and providers, driving patient engagement and adherence, and accelerating the speed of clinical trials. Glooko is globally deployed in over 30 countries and 8,000+ clinical locations. For more information, please visit glooko.com.
NEWS
Sep 04, 2024 04:35pm
Modular Medical Announces FDA Clearance of the MODD1 Insulin Pump
Aug 08, 2024 08:00am
Registration is Now Open for Tribe Public’s Webinar Event “Diabetes Care Innovator Modular Medical Takes Next Steps” Featuring Modular Medical CEO on Friday, August 9, 2024
Aug 07, 2024 08:00am
Modular Medical Initiates Transfer of Manufacturing Operations to Phillips Medisize
Jul 15, 2024 08:00am
Modular Medical Announces Proof-of-Concept Study for Personalized Metabolic Therapy utilizing the MODD1 Platform
Mar 26, 2024 08:00am
Modular Medical Announces Steve Gemmell as New Vice President of Engineering
Mar 04, 2024 11:00am
Registration Is Now Open for Tribe Public’s Webinar Event “Revolutionizing Diabetes Care” Featuring Modular Medical CEO on Wednesday, March 6, 2024
Feb 21, 2024 07:05pm
Modular Medical Announces Closing of $10 Million Public Offering
Feb 16, 2024 01:48am
Modular Medical Announces Pricing of $10 Million Public Offering
Feb 15, 2024 04:15pm
Modular Medical Announces Proposed Public Offering
Jan 24, 2024 11:00am
Modular Medical Announces Issuance of New US Patent
Jan 19, 2024 06:00am
Modular Medical Announces 510(k) Submission of MODD1 Insulin Pump
Dec 21, 2023 08:00am
Modular Medical Announces Collaboration with Glooko
Dec 11, 2023 11:30am
Registration Is Now Open For Tribe Public’s Webinar Event “Diabetes Care For The Rest Of Us.” Featuring Modular Medical CEO On Friday, December 15, 2023
Oct 31, 2023 11:00am
Modular Medical Updates Test Progress and Submission Timeline
Aug 16, 2023 04:01pm
Modular Medical Partners with Phillips-Medisize to Expand Insulin Delivery Alternatives
MANAGEMENT TEAM
PAUL DIPERNA
FOUNDER AND PRESIDENT
Paul leads the Modular Medical organization. He possesses over 30 years of experience in the medical device industry as a technologist, business executive and founder of several successful startups. He has been deeply involved in Diabetes care for the past 20 years.
Paul’s early background includes key roles at Baxter Healthcare where he worked in cell separation product design, high volume manufacturing, business development, initial startups to evaluate technology within the spaces between divisions, corporate project management and technical diligence on acquisitions. Upon leaving Baxter in 2003, Paul founded, created the technology, and was CEO and board member for a diabetes delivery innovation that bec
JAMES (JEB) BESSER
CHIEF EXECUTIVE OFFICER
23 year Managing Member, Manchester Management LLC, largest shareholder of Modular Medical, Inc.
25+ years of U.S. public equity and capital markets experience, with a focus in life science and technology
Provided long term strategic planning and due diligence, business development, and investor relations guidance to over 100 public companies
Active involvement in developing Modular Medical’s commercial go to market strategy since 2017
JAMES SULLIVAN
INTERIM CHIEF FINANCIAL OFFICER
Jim leads finance and administrative functions and brings over 30 years of financial management and accounting experience to Modular Medical. Based in Silicon Valley, he is a hands-on, seasoned CFO with significant public-company experience in hardware, software and cloud-services businesses and has completed over 15 financings. He has held CFO positions at MoSys, Inc., Apptera, Inc. and 8×8, Inc. Prior to his tenure as CFO at these companies, he held various positions in the assurance practice at PricewaterhouseCoopers LLP in New York and Silicon Valley. He holds a bachelor of science in accounting from New York University, Stern School of Business and is an active certified public accountant.
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