Alfred E. Mann Foundation for Scientific Research Announces Sale of Intellectual Property and Collaboration with Medtronic to Develop Next-Generation Implantable Insulin Pump

Thursday, 16. September 2021 14:00

LOS ANGELES, Sept. 16, 2021 (GLOBE NEWSWIRE) -- The Alfred E. Mann Foundation for Scientific Research (''AMF''), an independent non-profit medical device incubator committed to developing and commercializing innovative solutions for significant unmet or poorly met medical conditions, today announced the sale of intellectual property related to implanted infusion pumps to Medtronic, a global leader in medical technology, services and solutions. As part of the transaction, AMF will work with Medtronic to develop this technology into a next-generation implantable insulin pump for people living with hard-to-treat T1 diabetes in Europe. AMF’s highly advanced pump technology offers improvements over current state-of-the-art implantable insulin pumps such as more precise delivery of insulin, magnetic resonance imaging (“MRI”) compatibility, and occlusion detection – all within a lighter and smaller package.

“This collaboration with Medtronic provides a unique opportunity to improve the patient experience by bringing cutting-edge technology to help people living with diabetes manage their condition. We are pleased that Medtronic’s search for a next-generation implantable infusion pump led them to AMF,” stated Dr. Robert J. Greenberg, Chairman and CEO of AMF.

“At the same time, this transaction, coupled with other recent achievements by AMF, including the continued commercial success of our spinoffs, adds to our strong endowment. Today, we are in a position to pursue our mission to develop and commercialize innovative solutions for significant unmet or poorly met medical conditions. Our goal has always been to realize Alfred Mann’s dream to bring innovation forward and ultimately ensure that transformative products have a viable commercial pathway for the benefit of patients. We are now poised to further that work and develop innovative new medical technologies for patients across the globe,” concluded Greenberg.

AMF has a long history of developing compelling technologies in both implantable neuromodulation and drug delivery. Today, while staying true to the organizational roots, AMF is expanding its scope of innovation to embrace the dramatic changes underway in healthcare and healthcare delivery in North America and globally.

Terms of the transaction were not disclosed by either party.

About the Alfred E. Mann Foundation

Founded in 1985 by serial healthcare entrepreneur Alfred E. Mann, the Alfred Mann Foundation for Scientific Research's (“AMF”) mission is to develop and commercialize innovative solutions for significant unmet or poorly met medical conditions. AMF has developed a myriad of successful medical devices that change the lives of patients across the globe, including the cochlear implant that enables deaf people to hear, several diabetes products, numerous products in the neuromodulation space for the eradication of pain, and recovery of function. AMF spinoff companies have achieved a market value exceeding $7 billion. Currently, the organization is expanding both in size and scope of interest. AMF is located in Santa Clarita, California.

More information can be found at: www.aemf.org

Media Inquiries:

Brian Mech        
Alfred Mann Foundation
T: 661-910-0774
E: brianm@aemf.org

SOURCE: Alfred E. Mann Foundation.


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