Abbott is in the process of integrating its latest continuous glucose monitor (CGM), the Freestyle Libre 3 Plus, with Beta Bionics’ automated insulin delivery (AID) system known as the iLet Bionic Pancreas. This collaboration aims to enhance diabetes management by automating insulin delivery based on precise glucose readings from Abbott’s CGM. The expected launch of this integrated system is set for the fourth quarter, representing a significant step as it marks the Freestyle Libre 3 Plus’s first such use in the U.S.
Beta Bionics has developed the iLet Bionic Pancreas to simplify insulin dosing by minimizing the need for manual input, which is common in other AID systems. While existing systems often require users to manually input various data such as basal rates, insulin-sensitivity factors, and carbohydrate-to-insulin ratios, the iLet system only needs the user’s body weight and mealtime carbohydrate level selection at setup. This user-friendly approach allows for more streamlined and less error-prone operations.
The innovation comes after Beta Bionics received 510(k) clearance from regulatory bodies in May 2023 for the iLet Bionic Pancreas. Since the clearance, there has been a focus on ensuring the iLet system’s compatibility with leading CGMs in the market. Beta Bionics previously updated their firmware in December to support integration with Dexcom’s G7 CGM, another major player in the market. The new collaboration with Abbott thus enhances Beta Bionics’ competitive edge by linking with two of the market’s top CGMs in the U.S.
In anticipation of this integration, Beta Bionics plans to release a software update enabling users to select the Freestyle Libre 3 Plus as their preferred CGM when setting up a new sensor. This addition comes on the back of the FDA’s approval in March 2023, which cleared Abbott’s Freestyle Libre 2 and 3 for integration with AID systems.
Abbott has been actively pursuing multiple partnerships to expand the versatility and applicability of its CGM technologies. Earlier, Abbott achieved integration of its FreeStyle Libre 2 Plus sensor with Tandem’s t:slim X2 insulin pump. Moreover, Insulet received a CE mark recognizing the integration of its Omnipod 5 pump with Abbott’s CGM systems. Abbott also announced a collaboration with Medtronic, a key competitor, aiming to develop a CGM that interfaces with Medtronic’s insulin delivery technologies.
These moves are part of Abbott’s strategic efforts to penetrate deeper into the AID market segment, which, although smaller, represents a critical area for growth in diabetes care. On an earnings call in April, Abbott CEO Robert Ford highlighted the significance of this segment, pointing out that there are between 150,000 and 200,000 new AID system starts each year, reflecting a substantial opportunity for market share expansion.
Financially, Abbott’s efforts in this domain are paying off, as evidenced by the reported $1.6 billion revenue from Freestyle Libre sales in the second quarter alone, marking an 18.4% growth on a reported basis. This growth underscores the rising demand for integrated diabetes care solutions that offer patients more autonomy, ease of use, and enhanced quality of life.
Through strategic partnerships and continual product enhancements, Abbott and Beta Bionics are poised to lead significant advancements in diabetes technology. The integration of the Freestyle Libre 3 Plus with the iLet Bionic Pancreas is an example of innovative solutions emerging from collaborations that aim to improve patient outcomes in managing a complex and prevalent condition like diabetes.
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