ADA 2022 Key Press Releases (June 4)
On the second day of ADA 2022, six cardiometabolic-related news items were observed from Lilly, ADA, Insulet, vTv Therapeutics, and One Drop. Below, FENIX provides context and analysis for the announcements.
On the second day of ADA 2022, six cardiometabolic-related news items were observed from Lilly, ADA, Insulet, vTv Therapeutics, and One Drop. Below, FENIX provides context and analysis for the announcements.
One Drop announced the hiring of Sanofi’s former Head of Innovation and Diabetes Portfolio, Carrie Siragusa, as One Drop’s new VP of commercial strategy (view LinkedIn; pictured below). According to the press release, Siragusa will be part of the team tasked with commercializing a “multi-analyte dermal sensor with continuous health sensing capabilities.” Below, FENIX provides thoughts on Siragusa’s hiring in the context of One Drop’s goal to move beyond BGM as well as insight into the potential impact on the overall CGM market.
A series of cardiometabolic news items have been observed: Evernorth announced the expansion of its Weight Management Care Value program to include Novo Nordisk’s Wegovy (2.4mg semaglutide); a new Novo-sponsored trial, referred to as STEP HFpEF DM, has been observed evaluating semaglutide in people living with HF, obesity, and T2DM; JDRF issued an RFA for the development of combination CGM + continuous ketone monitoring (CKM) devices for the use of preventing DKA in patients with T1DM; and One Drop announced it has surpassed 25B longitudinal biometric data points in its platform. Below, FENIX provides highlights and insights for the respective news items.
One Drop and Bayer announced an updated agreement for the joint development of digital health products in CV, oncology, and women’s health. As part of the agreement, Bayer has led One Drop’s $34.7M Series C funding round and has committed to an additional $64M in development fees and potential commercial milestone payments. Below, FENIX provides thoughts on how One Drop got this far with Bayer, if One Drop took a down round, and some potential irony with Bayer’s focus on diabetes.
Two diabetes-related news items have been observed: yesterday, One Drop announced it has launched a new “Digital Membership” platform and AstraZeneca has entered into a partnership with RenalytixAI for “precision medicine strategies” in CV, renal, and metabolic diseases. Below, FENIX provides highlights and insights from the respective news items, including thoughts on why One Drop’s Digital Membership may be an admission that its current diabetes solution and commercial infrastructure is lacking.
One Drop announced results from a recent study showing that its AI algorithm was able to predict glucose levels up to 120 minutes ahead of the user’s CGM. Of note, this data was also presented as a poster at the 2019 Diabetes Technology Meeting. Below, FENIX provides brief thoughts on the potential for One Drop glucose prediction tool in the context of similar features from Dexcom and Medtronic.
One Drop recently announced that its BGM platform is now available in select US Apple stores. The One Drop BGM platform, which includes a mobile app, integrates with Apple HealthKit and is able to send data directly to an iPhone or Apple Watch. This is One Drop’s second large distribution agreement in 2019. In March, One Drop announced a partnership with Amazon to be part of Amazon’s Choice. Below, FENIX provides thoughts on why the distribution agreement makes sense for both One Drop and Apple.