Israel’s Insuline, Johnson & Johnson to Test Market Device for Diabetics in Germany
Israeli medical device developer Insuline Medical Ltd. will test market a tool to improve the rate of insulin absorption for diabetics, through a marketing partnership with Johnson & Johnson unit LifeScan, Inc. that will start in Germany, Israel’s Globes business daily reported.
Insuline’s medical device warms the injection site, increasing the rate at which insulin is absorbed by the body. The faster the insulin is absorbed, the more effective it is. There are chemically-enhanced, rapid-acting insulin products on the market, but Insuline’s product improves the absorption rates of both rapid-acting insulin, and regular insulin, Globes said.
If successful, the German test launch will be expanded to a pan-European distribution.
The company is led by Ron Nagar, founder of two optical communication companies and three medical device companies, a field he’s focused on for 13 years, according to the company’s website. The Technion grad is author or co-author of 26 published patents and patent applications, most of which are for devices for diabetics.
Following news of the deal on Wednesday, shares of Insuline in Tel Aviv rose 6.7% on heavy trading volume, establishing a market capitalization of NIS 314 million (about $100 million).