Beta Bionics Does the Work to Reduce Insulin Pump Burden
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Hello and welcome. This is The Michelle Hussein Show. I'm Michelle Hussein. I speak with people like Elon Musk.
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You certainly ask interesting questions.
Welcome to another episode of the Vanguards of Healthcare series. My name is Matt Henriksen, the Medical Technology Analyst at Bloomberg Intelligence, which is the in-house equity research platform of Bloomberg LP. We are pleased to have with us today Sean Saint, CEO of Beta Bionics, a medical device company that is a key leader in the expansion of automated insulin delivery systems, or AIDs for short, the next generation of insulin pumps to help diabetic patients keep track of their glucose levels. You can dive deeper into the financials by typing in BBNX Equity Go on your Bloomberg terminal. Sean, thank you for joining us today. Thanks for having us, Matt. And Sean, you know, you started the role of Beta Bionic CEO a few years ago, but what
You've had a long history in the diabetes space, at a personal level as well. So why don't we start with, for the listeners, a story of your path that got you to the CEO role today?
Ooh, yeah, long and winding road, actually. Matt, I got involved in diabetes, gosh, over 20 years ago now with a little company you may have heard of called Dexcom. Obviously, they're not a little company anymore, but at the time, they really were. We didn't have real-time continuous glucose monitoring at that stage, and looking back on it 22 years later, we had no idea what it was ultimately going to become. But yeah, I spent about five years there. Later moved on to tandem diabetes care, designing insulin pumps. And it was oddly a tandem that I got diagnosed with type 1 diabetes myself. I'd been in the industry almost a decade at that stage. And to have that happen to me as the director of advanced technologies at an insulin pump company was pretty ironic.
But, you know, it did set me up for, you know, my future beyond that. At that point, I would say there's two things that happened. The first is that I met our founder from Beta Bionics, Ed Damiano, at ADA. And I walked up to him afterwards. I'd heard him talk about this crazy idea of bi-hormonal insulin delivery, insulin and glucagon delivery. And, yeah. I was just amazed and I asked him how I could help. And that started our collaboration back in 2010. And then a few years later, I left Tandem to go found Companion Medical, which was the opposite way of doing the same thing, which was we wanted to make a smart pen, a smart insulin pen, which was just another way of bringing better technologies to more people.
with diabetes who'd really been left out in the cold by the pump technologies that existed at that time. And then years later, to get the opportunity to come sit in this seat was just lightning striking for me.
Yeah, quite a career. And what caught my attention is you were diagnosed with, I mean, was this type one or type two diabetes you were diagnosed in your adult years?
Yeah, definitely type one. You know, something we used to call juvenile onset diabetes. We don't call it that anymore because we've realized that, you know, people can get it in any time. For me, I was 35. My wife might argue that I'm still juvenile, but be that as it may, we don't call it that anymore.
Yeah, I feel like my wife's on the same boat there. But it's interesting, though, because it just makes you think that you have this – we'll dive deeper into kind of the market opportunities and the patient pools that can benefit from these AIDs. But just the fact that it just – when we go into that, knowing that the type 1 – the patients that can benefit from this, it's not a static number. It's an ever-evolving number, which is I always find interesting with how the disease progresses with some of these patients.
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