Welcome to our dedicated page for Modular Medical news (Ticker: MODD), a resource for investors and traders seeking the latest updates and insights on Modular Medical stock.
Modular Medical Inc., based in Beacon House Orchard Farm Ivinghoe Aston, Buckinghamshire, United Kingdom, is a development-stage medical device company focused on designing, developing, and commercializing an insulin pump using modernized technology to increase pump adoption in the diabetes marketplace. Their products target both type 1 and rapidly growing type 2 diabetes markets, especially in terms of device adoption.
The latest news from Modular Medical Inc. announced their commencement of an underwritten public offering of shares of its common stock to fund operations and maintain working capital. Titan Partners Group, a division of American Capital Partners, is the sole book-running manager for the offering. The company intends to utilize the net proceeds from the offering for capital expenditures and general corporate purposes.
Modular Medical's mission is to provide top-quality insulin delivery that is both affordable and easy to learn, extending glycemic control access to a wider audience. The company's founder, Paul DiPerna, is a seasoned medical device professional with a background in microfluidics engineering and an innovative history in the diabetes market, previously founding Tandem Diabetes and its t:slim insulin pump.
Modular Medical (NASDAQ:MODD) announced its Gold sponsorship of the inaugural Achieving Diabetes Equity in Practice Today (ADEPT) Conference, scheduled for November 12-13, 2024, in Chicago. The conference, a joint initiative between the American Diabetes Association and T1D Exchange, aims to address health equity in type 1 and type 2 diabetes. The company, which recently received FDA clearance for its user-friendly and affordable patch pump MODD1, will use the conference to showcase its product and plans to improve patient access to diabetes technology.
Tribe Public announced a webinar event titled 'Tailoring GLP-1 Weight Loss Treatments: Innovative Approaches To Personalized Dosing' featuring Modular Medical's CEO Jeb Besser, scheduled for Monday, November 11, 2024. The event highlights the connection between obesity and diabetes, noting that obesity is linked to 30% to 53% of new diabetes cases in the U.S. annually, according to research published in the Journal of the American Heart Association.
Modular Medical (NASDAQ:MODD) announced successful results from its pre-clinical GLP-1 proof of concept study. The study demonstrated enhanced weight loss and blood glucose control using a pump-delivered rapid-acting GLP-1 with both basal and bolus dosing. The highest basal-bolus dose achieved 17.1% weight loss at 28 days, compared to 13.7% with basal alone. All dosing variations outperformed semaglutide in glucose control. The study involved 5 treatment arms, with semaglutide showing 24.9% weight loss but with a sharp 8% drop in the first two days. The company plans to advance this basal-bolus GLP-1 concept to human trials using their MODD1 device.
Modular Medical (NASDAQ:MODD), an insulin delivery technology company, will participate in the Lytham Partners Fall 2024 Investor Conference on October 1, 2024. The company, known for its FDA-cleared patch pump designed for adult 'almost-pumpers', will present a webcast at 2:00 p.m. Eastern Time on Tuesday, October 1. The webcast can be accessed via the conference home page and will be available for replay.
Additionally, Jeb Besser, Modular Medical's Chief Executive Officer, will host virtual one-on-one meetings with investors throughout the event. Interested parties can arrange meetings or register for the event through Lytham Partners.
Modular Medical (NASDAQ:MODD) has announced the issuance of U.S. Divisional Patent Application No. 17/968,599, covering key aspects of its core pumping technology. This patent protects major features of the pumping mechanism in the FDA-cleared MODD1 product, the first patch pump designed for all adult 'almost-pumpers'. CEO Jeb Besser highlighted the significance of this patent in protecting the company's intellectual property and creating a barrier to entry.
The patent is part of Modular Medical's eight families of patents surrounding their pump technology, which the company considers important to its strategic value and market positioning. The MODD1 pump platform is characterized by its user-friendly, affordable design and novel, low-cost, and accurate insulin delivery technology. The company anticipates announcing further patent issuances in the future.
Modular Medical (NASDAQ:MODD) has finalized the protocol for a proof-of-concept study exploring the use of its MODD1 pump platform for delivering rapid-acting GLP-1 therapies. The study, set to begin in October 2024 with data expected in November 2024, aims to address issues faced by patients who discontinue long-acting GLP-1 formulations due to tolerability, inconsistent efficacy, and cost.
The company sees potential in using the MODD1 pump for personalized metabolic therapy, particularly for those who struggle with weekly GLP-1 injections. This application would require no significant changes to the MODD1 design. If successful, Modular Medical plans to partner with a drug manufacturer for clearance and marketing.
CEO Jeb Besser will discuss the program details in a Tribe Public Webinar on September 11, 2024. The company believes this new application could be as significant as its base insulin pump business, targeting a market of patients who cannot tolerate weekly therapies.
Modular Medical (Nasdaq: MODD) has announced a webinar event titled 'Diabetes, Obesity, GLP-1, & The MODD-1 Opportunity' featuring CEO Jeb Besser. The event, scheduled for September 11, 2024, will address critical health issues and market opportunities. Key points include:
- Over 3 million people in the US use daily insulin for diabetes management
- Only 20% of insulin-dependent patients currently use insulin pumps
- Obesity is linked to 30-53% of new diabetes cases annually in the US
- About 50% of patients prescribed GLP-1 drugs for weight loss discontinue within 12 weeks
The webinar aims to discuss these trends and Modular Medical's potential in the insulin pump technology market.
Modular Medical (NASDAQ:MODD) has announced a conference call and webcast on September 5, 2024, at 8:30 a.m. Eastern Time to discuss the recent FDA clearance of its MODD1 insulin pump. The company, which focuses on developing accessible and user-friendly insulin delivery systems, will also address next steps and upcoming milestones. The call will be accessible via phone and webcast, with replay options available until September 19, 2024. This announcement marks a significant milestone for Modular Medical as they prepare to launch their market expansion product, designed to be more accessible, easier to prescribe, and simpler to manage for patients.
Modular Medical (NASDAQ:MODD) has received FDA clearance for its MODD1 insulin pump, designed for all adults with Type 1 and Type 2 diabetes. The MODD1 aims to be simpler and more affordable, expanding access to diabetes technology for underserved communities. Commercial availability is expected in early 2025, with manufacturing infrastructure largely in place.
CEO Jeb Besser emphasized the goal of making pump therapy less intimidating and more accessible, targeting users beyond the current market. The company's mission is to provide 'diabetes care for the rest of us', addressing the needs of all patients and clinicians. A conference call to discuss the clearance and future milestones will be announced soon.
Modular Medical (NASDAQ:MODD), a development-stage insulin delivery technology company, announces CEO Jeb Besser's upcoming presentation at Tribe Public's Webinar on August 9, 2024. The event, titled 'Diabetes Care Innovator Modular Medical Takes Next Steps', will showcase the company's efforts in developing user-friendly and affordable insulin pump technology.
The webinar comes amid projections of significant growth in the global diabetes care market, expected to reach $35.8 billion by 2028 from $18.9 billion in 2023. The insulin pump segment alone is forecasted to grow from $5.26 billion to $21.65 billion by 2032. Modular Medical aims to capitalize on this growth with its MODD1 technology, designed to empower the diabetes community.
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