DexCom to Collaborate with the Life Sciences Team at Google on the Development of Breakthrough Technologies to Change the Future of Diabetes Management
Healthcare and Technology Leaders Join Forces to Reduce Costs and
Improve Outcomes for People with Diabetes
SAN DIEGO--(BUSINESS WIRE)--
DexCom, Inc. (NASDAQ:DXCM), a leader in continuous glucose monitoring
(CGM) for people with diabetes, announced today that it has entered into
an agreement with the life sciences team at Google to jointly develop a
series of next-generation CGM products that are designed to be smaller
and less expensive than existing technologies. These new products will
incorporate Google's miniaturized electronics platform with DexCom's
best-in-class sensor technology. This collaboration also provides an
opportunity to better utilize the data generated by these CGM products
to significantly improve the outcomes and reduce the costs associated
with diabetes care.
"This partnership has the potential to change the face of diabetes
technology forever," said Kevin Sayer, President and Chief Executive
Officer of DexCom. "Working together, we believe we can introduce
products that will move us beyond our core Type 1 business to become the
standard of care for all people living with diabetes."
"We're committed to developing new technologies that will help move
health care from reactive to proactive," said Andrew Conrad, head of the
life sciences team at Google. "This collaboration is another step
towards expanding monitoring options and making it easier for people
with diabetes to proactively manage their health."
Initial products to be developed under the agreement will focus on
minimizing both the cost and size of CGM body worn components. The
products will be designed to be disposable, and will be intended for use
across all diabetes markets. The goal is to empower more people to
control their diabetes with real-time and actionable information by
developing a low-cost, small, bandage-sized sensor that is connected to
the cloud. By addressing these needs, we believe we will have the
platform that can replace finger sticks and become the standard of care.
DexCom retains all sales and distribution rights of the products
developed under this agreement. DexCom is also obligated to pay an
initial upfront payment and milestone payments during development, and
revenue-based royalties once these products are launched and have
achieved a certain level of revenue.
Management will hold a conference call to review this agreement starting
at 8:30 a.m. (Eastern Time) on Tuesday, August 11, 2015. The conference
call will be concurrently webcast. The link to the webcast will be
available on the DexCom website at www.dexcom.com
by navigating to "Our Company," then "Investor Relations," and then
"Events and Webcasts," and will be archived there for future reference.
To listen to the conference call, please dial (866) 352-2112 (US/Canada)
or (630) 691-2779 (International) and use the confirmation number
9526250 approximately five minutes prior to the start time.
About DexCom, Inc.
DexCom, Inc., headquartered in San Diego, California, is developing and
marketing continuous glucose monitoring systems for use by people with
Cautionary Statement Regarding Forward Looking Statements
This press release contains forward-looking statements that are not
purely historical regarding DexCom's or its management's intentions,
beliefs, expectations and strategies for the future, including those
relating to the development, cost, size, intended use and technical
specifications of the CGM products, the potential impact on outcomes and
costs associated with diabetes care, and the potential payments to be
made by DexCom pursuant to the collaboration agreement. Because such
statements deal with future events, they are subject to various risks
and uncertainties, and actual results could differ materially from
DexCom's current expectations. Factors that could cause actual results
to differ materially include risks and uncertainties such as those
relating to: the inability to successfully development new products and
obtain regulatory approval; 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 section entitled "Risk
Factors" in DexCom's Annual Report on Form 10-K, its most recent
Quarterly Report on Form 10-Q, and its other reports filed with the
Securities and Exchange Commission.
All forward-looking statements and reasons why results might differ
included in this release are made as of the date of this press release,
based on information currently available to DexCom, and DexCom assumes
no obligation to update any such forward-looking statement or reasons
why results might differ.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150811005440/en/
Steven R. Pacelli, 858-200-0200
President, Strategy and Corporate Development
Candace Disler, 973-263-8585 x228
Source: DexCom, Inc.
News Provided by Acquire Media
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