Modular Medical Announces Issuance of U.S. Patent Covering Key Aspects of Core Pumping Technology
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) ha annunciato il rilascio della Domanda di Brevetto Divisivo Statunitense No. 17/968,599, che copre aspetti chiave della sua tecnologia di pompaggio principale. Questo brevetto protegge caratteristiche importanti del meccanismo di pompaggio nel prodotto MODD1, il primo dispositivo a patch progettato per tutti gli 'almost-pumpers' adulti. Il CEO Jeb Besser ha sottolineato l'importanza di questo brevetto nella protezione della proprietà intellettuale dell'azienda e nella creazione di una barriera all'ingresso.
Il brevetto fa parte delle otto famiglie di brevetti di Modular Medical riguardanti la loro tecnologia di pompaggio, che l'azienda considera fondamentale per il suo valore strategico e la sua posizione di mercato. La piattaforma della pompa MODD1 si distingue per il suo design user-friendly e accessibile e per la tecnologia innovativa, economica e accurata nella somministrazione dell'insulina. L'azienda prevede di annunciare ulteriori rilasci di brevetti in futuro.
Modular Medical (NASDAQ:MODD) ha anunciado la emisión de la Solicitud de Patente Divisional de EE.UU. No. 17/968,599, que cubre aspectos clave de su tecnología de bombeo central. Esta patente protege características importantes del mecanismo de bombeo en el producto MODD1, la primera bomba tipo parche diseñada para todos los 'almost-pumpers' adultos. El CEO Jeb Besser destacó la importancia de esta patente para proteger la propiedad intelectual de la empresa y crear una barrera de entrada.
La patente es parte de las ocho familias de patentes de Modular Medical relacionadas con su tecnología de bombeo, que la empresa considera crucial para su valor estratégico y posición en el mercado. La plataforma de la bomba MODD1 se caracteriza por su diseño amigable y asequible y por la tecnología novedosa, de bajo costo y precisa de entrega de insulina. La empresa anticipa anunciar nuevas emisiones de patentes en el futuro.
모듈러 메디컬(Modular Medical, NASDAQ:MODD)은 미국 분할 특허 출원 번호 17/968,599의 발급을 발표했습니다. 이 특허는 핵심 펌핑 기술의 주요 측면을 다룹니다. 이 특허는 FDA 승인을 받은 MODD1 제품의 펌핑 기계에서 중요한 기능을 보호합니다. CEO 제브 베서(Jeb Besser)는 이 특허가 회사의 지적 재산을 보호하고 진입 장벽을 만드는 데 중요하다고 강조했습니다.
이 특허는 Modular Medical의 여덟 개 특허 가족의 일환으로, 이는 회사가 전략적 가치와 시장 posicion에 매우 중요하다고 생각합니다. MODD1 펌프 플랫폼은 사용자 친화적이고 저렴한 디자인과 혁신적이고 저렴하며 정확한 인슐린 전달 기술으로 특징지어집니다. 회사는 앞으로 추가 특허 발급을 발표할 계획입니다.
Modular Medical (NASDAQ:MODD) a annoncé la délivrance de la Demande de Brevet Divisional américaine No. 17/968,599, qui couvre des aspects clés de sa technologie de pompage principale. Ce brevet protège des caractéristiques majeures du mécanisme de pompage dans le produit MODD1, la première pompe de patch conçue pour tous les adultes 'almost-pumpers'. Le CEO Jeb Besser a souligné l'importance de ce brevet pour protéger la propriété intellectuelle de l'entreprise et créer une barrière à l'entrée.
Le brevet fait partie des huit familles de brevets de Modular Medical concernant leur technologie de pompe, que l'entreprise considère comme essentielle pour sa valeur stratégique et son positionnement sur le marché. La plateforme de pompe MODD1 se caractérise par son design convivial et abordable ainsi que par sa technologie innovante, peu coûteuse et précise de livraison d'insuline. L'entreprise prévoit d'annoncer d'autres délivrances de brevets à l'avenir.
Modular Medical (NASDAQ:MODD) hat die Erteilung der US-Teilpatentanmeldung Nr. 17/968,599 bekannt gegeben, die wichtige Aspekte seiner Kernpumpentechnologie abdeckt. Dieses Patent schützt wesentliche Merkmale des Pumpmechanismus im FDA-zugelassenen MODD1-Produkt, der ersten Patch-Pumpe, die für alle Erwachsenen, die 'almost-pumpers' sind, entwickelt wurde. CEO Jeb Besser hob die Bedeutung dieses Patents zum Schutz des geistigen Eigentums des Unternehmens hervor und zur Schaffung einer Eintrittsbarriere.
Das Patent ist Teil von Modular Medicals acht Patentfamilien, die sich auf die Pumpentechnologie beziehen, welche das Unternehmen als wichtig für seinen strategischen Wert und seine Marktposition ansieht. Die MODD1-Pumpenplattform zeichnet sich durch ihr benutzerfreundliches und preiswertes Design sowie durch die neuartige, kostengünstige und präzise Insulinabgabe-Technologie aus. Das Unternehmen plant, in Zukunft weitere Patentveröffentlichungen anzukündigen.
- Issuance of U.S. patent covering key aspects of core pumping technology
- Patent protection for major features of FDA-cleared MODD1 product
- Creation of a significant barrier to entry in the market
- Strengthening of company's intellectual property portfolio
- None.
Insights
The issuance of this U.S. patent for Modular Medical's core pumping technology is a significant development in the insulin delivery market. It strengthens the company's intellectual property portfolio, potentially creating a competitive advantage in the rapidly evolving diabetes care sector. The patent covers key aspects of the MODD1 pump, which is designed to be user-friendly and affordable, targeting the underserved "almost-pumpers" segment. This strategic positioning could expand Modular Medical's market reach and differentiate its products from competitors. However, the long-term impact will depend on the company's ability to leverage this patent for commercial success and navigate the competitive landscape effectively.
While patent issuance is generally positive, investors should approach this news with cautious optimism. The real value lies in Modular Medical's ability to monetize this intellectual property and capture market share. The company's focus on "almost-pumpers" with an affordable, user-friendly design could potentially disrupt the insulin pump market, currently dominated by larger players. However, financial metrics such as revenue growth, market penetration and profitability will be important indicators of success. Investors should monitor the company's progress in commercializing the MODD1 pump and any partnerships or distribution agreements that could accelerate market adoption. The patent may enhance the company's attractiveness for potential acquisitions or collaborations in the future.
The issuance of this divisional patent application is a strategic move by Modular Medical to broaden and strengthen its intellectual property protection. By securing claims on key features of their pumping mechanism, the company has erected potential legal barriers against competitors attempting to replicate their technology. This could provide a competitive moat for several years, allowing Modular Medical to establish market dominance in their niche. However, the strength of these patents will ultimately be tested if challenged in court. Investors should be aware that patent litigation is common in the medical device industry and can be costly. The company's mention of eight patent families suggests a robust IP strategy, which is important for long-term value creation in the biotech sector.
Allowed claims cover major features of pumping mechanism in FDA-cleared MODD1 product
SAN DIEGO, CA / ACCESSWIRE / September 18, 2024 / Modular Medical, Inc. (NASDAQ:MODD) ("Modular Medical" or the "Company"), an insulin delivery technology company with the first FDA-cleared patch pump designed specifically to target all adult "almost-pumpers" thanks to its user-friendly and affordable design, announced the issuance of U.S. Divisional Patent Application No. 17/968,599.
"The issuance of this patent and the associated claims represent a major step in our efforts to protect the intellectual property in the MODD1 pump platform," stated Jeb Besser, CEO of Modular Medical. "Some of the key features of our novel, low-cost and accurate insulin delivery technology are now protected by this important issued U.S. patent, which we believe represents a significant new barrier to entry. Our eight families of patents around our pump are an important part of our strategic value and market positioning, and we look forward to announcing further issuances on our portfolio in the future."
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained in this press release. These factors include, but are not limited to, whether Modular Medical will be issued additional patents for its proprietary technology, the level of intellectual property protection provided by the Company's patents, whether Modular Medical can successfully develop its proprietary technologies, whether the market will accept Modular Medical's products and services, the future product roadmap and development activities, anticipated consumer demand for the Company's products, whether Modular Medical can successfully manufacture its products at high volumes, general economic, and industry or political conditions in the United States or internationally, as well as other risk factors and business considerations described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.
About Modular Medical
Modular Medical, Inc. (NASDAQ:MODD) is a 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. Our 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. More information is available at https://modular-medical.com.
All trademarks mentioned herein are the property of their respective owners.
CONTACT:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
View the original press release on accesswire.com
FAQ
What patent did Modular Medical (MODD) recently receive?
How many patent families does Modular Medical (MODD) have for its pump technology?
What is unique about Modular Medical's (MODD) MODD1 product?
How does the new patent impact Modular Medical's (MODD) market position?
