Beta Bionics announces the closing of a $60 million Series E financing

IRVINE, CA / ACCESSWIRE / November 13, 2024 / Beta Bionics, Inc., a pioneering leader in the development of advanced diabetes management solutions, announces the successful closing of a $60 million Series E financing round with preferred stock.

The Series E financing was led by new investor Wellington Management. Previous investors Eventide Asset Management LLC, select funds managed by RTW Investments, Sands Capital, Soleus Capital, Omega Funds, Perceptive Advisors and Marshall Wace also participated.

Beta Bionics’ flagship product, the iLet Bionic Pancreas, is a self-contained insulin delivery system that streamlines diabetes management and reduces the burden on patients, caregivers and physicians. When iLet users use “GO BIONIC” with their diabetes management, they don’t have to count carbs* or calculate insulin corrections all day long – the iLet determines 100% of insulin doses and continuously learns and adapts to the user. The only input required to get started with the iLet is the user’s weight.

Proceeds from the financing will support the expanded commercialization of the iLet and product pipeline development as Beta Bionics works to improve health outcomes and quality of life for children and adults living with diabetes and other conditions of glycemic dysregulation.

*User must be aware of carbohydrates

Contact details

Karen Hynes
Vice President of Marketing
[email protected]

Stephen Feider
Chief Financial Officer and Company Secretary
[email protected]

SOURCE: Beta Bionics

View the original press release on newswire.com.