In a surprising turn of events, Embecta has decided to discontinue its insulin patch pump program, just months after securing FDA clearance for its first product.
CEO Dev Kurdikar said the announcement may “come as a surprise” following so soon after receiving FDA clearance for a patch pump. He added that the company “did not intend to do a full market launch of this product.
The open-loop system currently cleared by the FDA requires additional advancements to meet commercial expectations, including extending the product's shelf life and enhancing its compatibility with bring-your-own-device setups."”
The company's intention was to develop a closed-loop version, which automatically delivers insulin when needed - an open-loop is where users manually control insulin delivery.
The announcement marks a significant shift for the diabetes tech company and reflects a reassessment of priorities in a competitive market. The restructure will involve streamlining operations and cutting costs.
In an updated statement on 6th December, the company confirmed that approximately 125 related jobs in Andover, Massachusetts will be cut including the position of Chief Medical Officer.
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