Beta Bionics raised $60M in a Series E funding round led by Wellington Management to support the commercialization of the iLet bionic pancreas.

Nov 14, 2024•about 1 year ago

Amount Raised

$60 Million

Round Type

series e

ConcordBiotechnology

Investors

Marshall WacePerceptive AdvisorsOmega FundsSoleus CapitalSands CapitalRtw InvestmentsEventide Asset Management LlcWellington Management

Description

Beta Bionics has closed a Series E preferred stock financing round worth a total of $60 million. The funding will support the expanded commercialization of its iLet bionic pancreas and product pipeline development.

Company Information

Company

Beta Bionics

Location

300 Baker Avenue, Suite 301

Concord, Massachusetts, United States

About

Beta Bionics is a commercial stage medical technology company engaged in the design, development, and commercialization of innovative solutions to improve the health and quality of life of insulin-requiring people with diabetes (PWDs) by utilizing advanced adaptive algorithms to simplify and improve the treatment of their disease. The iLet Bionic Pancreas is the first FDA-cleared autonomous insulin delivery device in the market and offers the potential to substantially improve overall outcomes across broad populations of PWDs.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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