W. L. Gore & Associates, Inc. announced an investment in PhysioLogic Devices, Inc., a startup that is developing an implantable insulin delivery system.
The system is aimed at improving insulin therapy for more than 12 million individuals worldwide with Type 1 (juvenile) diabetes.
This investment will provide supplemental funding to allow PhysioLogic to reduce challenges associated with implantable micropumps and actuators.
An essential part of the system that PhysioLogic is developing is an implanted catheter for insulin delivery. Gore will apply its material science expertise to resolve obstructions that can occur in catheters, a release stated.
This investment in PhysioLogic was realized through Gore’s Micro-Equity Investment (MEI) program. Gore created the program to further support its goals of partnerships and collaborative ideation efforts and to accelerate the development of new technologies and business models with startups. The MEI program offers investments of up to $500,000 to early-stage companies.
“Gore recognizes the benefit of collaborating and investing in startups as a way to expand our business and technology portfolio,” said Mila Ristic-Lehmann, an innovation leader at Gore. “Presently, there is a recognized need for automated, unobtrusive, and more physiological insulin delivery systems worldwide.
“Overcoming catheter obstructions plays an important role in the development of intraperitoneal insulin delivery systems,” said Greg Peterson, CEO of PhysioLogic. “We look forward to the opportunity to collaborate with Gore to solve this technical challenge based on Gore’s material science capability and develop a system that offers our life-changing treatment to millions of individuals living with insulin-requiring diabetes.”
Gore is a materials science company with a heavy presence in the medical area. Gore is based in Newark.
