DexCom and Tandem Diabetes Care Announce CGM Development and Commercialization Agreement
Future Generation CGM System to be Integrated with First Ever
Touch Screen Insulin Pump
SAN DIEGO--(BUSINESS WIRE)--
DexCom, Inc. (NASDAQ:DXCM), a leader in continuous glucose monitoring
systems, announced today that it has entered into a Development and
Commercialization Agreement with Tandem Diabetes Care, Inc. to integrate
a future generation of DexCom's continuous glucose monitoring (CGM)
technology with Tandem's t:slim™ Insulin Delivery System, the first ever
touch-screen insulin pump.
"We are very pleased to work with Tandem to help people with diabetes
live longer, healthier lives," stated Terrance H. Gregg, Chief Executive
Officer of DexCom. "DexCom and Tandem share a common goal of bringing
best-in-class diabetes care to our patients."
"Through the development of t:slim, Tandem learned that design and ease
of use are critically important to people with diabetes," said Kim
Blickenstaff, President and Chief Executive Officer of Tandem. "DexCom's
future generation sensor adds to our portfolio approach of listening to
people with diabetes and developing products that support their needs."
The Development and Commercialization Agreement is non-exclusive and
limited to the U.S. market. Under the terms of the Agreement, Tandem
will pay DexCom a technology license fee of $3 million, reimburse
DexCom's development, clinical and regulatory expenses, and upon
commercialization of the combined system, Tandem will pay DexCom a
royalty of $100 for each CGM-enabled insulin pump sold.
About DexCom, Inc.
DexCom, Inc. (www.dexcom.com),
headquartered in San Diego, California, is developing and marketing
continuous glucose monitoring systems for ambulatory use by patients and
by healthcare providers in the hospital.
About Tandem Diabetes Care, Inc.
Dedicated to advancing the management of diabetes, Tandem Diabetes Care,
Inc. (www.tandemdiabetes.com)
is a privately held company with novel diabetes technologies. The
Company offers a comprehensive, user-centric and integrated approach to
product development and customer care. Tandem Diabetes Care is based in
San Diego, Calif.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes, use #tslim
Follow Tandem Diabetes Care on Facebook at www.facebook.com/TandemDiabetesCorp
DexCom's Cautionary Statement Regarding Forward Looking Statements
DexCom is a medical device company with a limited operating history.
Successful commercialization of the company's products is subject to
numerous risks and uncertainties, including a lack of acceptance in the
marketplace by physicians and patients, the inability to manufacture
products in commercial quantities at an acceptable cost, possible delays
in the company's development programs, the inability of patients to
receive reimbursement from third-party payors and inadequate financial
and other resources. Certain of these risks and uncertainties, in
addition to other risks, are more fully described in the company's
annual report on Form 10-Q for the period ending September 30, 2011, as
filed with the Securities and Exchange Commission on November 2, 2011.
DexCom, Inc.
Steven R. Pacelli
Chief Operating Officer
858-200-0200
Source: DexCom, Inc.
News Provided by Acquire Media
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