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company profile

 

Modular Medical, Inc. (NASDAQ:MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond “superusers” and providing “diabetes care for the rest of us.”

Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.

Sector
:
Healthcare
Industry
:
Medical Technology
Exchange
:
NASDAQ
Ticker
:
MODD

vista's key points

  • There are 1.9 million individuals with Type 1 Diabetes in the US.9 100% of patient population require daily insulin injection. Only 1 out of 3 currently use an insulin pump.
  • 32% of population utilizes insulin pumps for diabetes management
  • 68% of the population rely on multiple daily injections for diabetes management
  • $3 Billion Market For Almost Pumpers - New microfluidics technology allows for low-cost pumping of insulin
  • HCPs fairly consistently indicated that about 25% of their MDI population are “almost pumpers”, meaning that they have considered going on a pump, understand pump therapy benefits, but want something simpler that doesn’t have all the "bells and whistles”
  • Modular Medical's MODD1 Insulin Delivery for Almost Pumpers
  • MODD1's precision micro-dosing limits excessive insulin exposure and preserves insulin molecule integrity* Can be used with the latest ultra rapid insulins* More continuous insulin delivery with small increments as needed, not locked into five-minute intervals like other pumps
  • 8 family patents underway to provide a sustainable competitive advantage
  • Ultra high-volume major components make low cost manufacturing a reality for the first time in the industry
  • 50% lower cost of goods than leading patch pump
  • $3.0B Expansion of Market
  • Approval Timeline: 510(k) Predicate device approval pathway for FDA label. Same label as Omnipod. Testing is based on benchtop tests, no human trials required (no insulin pump has done pre-approval human trials)
  • MODD1 FDA Submission: First FDA meeting was held in Nov. 2019. Second meeting was Mar. 2020. FDA submission expected January 2024. Anticipated 6-month review period.

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