The University of Virginia Licensing & Ventures Group (UVA LVG) Seed Fund has exited from TypeZero Technologies, Inc. following the recent announcement of DexCom, Inc.’s acquisition of the company. DexCom, a publicly traded company, headquartered in San Diego, Calif., is the leader in continuous glucose monitoring for people with diabetes.
TypeZero’s products include software for automated insulin delivery systems that automatically regulate blood sugar levels through customized insulin delivery and decision support systems. These personalized technologies reduce the decision-making burden on patients and bring stability and ease to the lives of millions living with diabetes.
“The future of this technology as part of DexCom will help realize our shared mission to empower diabetes patients with innovative solutions that make their lives more manageable,” said Chad Rogers, CEO of TypeZero Technologies. “This has been a collaborative effort from the beginning, and I know our many partners at UVA share our excitement.”
With support from UVA LVG, Rogers, a UVA alumnus (McIntire ’97), co-founded the company in 2013 and licensed foundational intellectual property for the automated insulin delivery technology. Since then, TypeZero has developed and tested automated insulin delivery and decision support technologies in thousands of hours of clinical trials. The company has established critical partnerships in insulin delivery to further its closed loop technology and integrate customizable features for patients.
“UVA LVG created the Seed Fund to shepherd early-stage technologies toward the market, not only with funding but also by leveraging UVA’s extensive network, and the TypeZero exit exemplifies our intentions,” said Michael Straightiff, Executive Director of UVA LVG. “The cross-discipline research and launch of a new venture by a UVA alum illustrate the depth of collaboration that will lead the way to a brighter future for patients living with diabetes.”
Decades of research by experts across the University including Drs. Boris Kovatchev and Marc Breton of the UVA School of Medicine and Stephen Patek of the UVA School of Engineering and Applied Science laid the foundation for the pancreas automated insulin delivery technology that TypeZero further developed for commercialization. As co-founders of TypeZero, the researchers collaborate on clinical trials while pursuing complementary research at the UVA Center for Diabetes Technology. The work is an example of the University’s strength in bringing engineers and physicians together to develop multidisciplinary solutions to health challenges.
The world’s most prominent diabetes research organizations, including the Juvenile Diabetes Research Foundation (JDRF) — the largest private funder of type 1 diabetes research — and the National Institutes of Health, financially supported and championed the extensive diabetes research, development, and clinical trials performed at UVA. Other supporters of the early work at UVA include the LaunchPad Program, funded by the Manning Family Foundation, the Helmsley Charitable Trust, and other philanthropists to the UVA Health System.
TypeZero’s headquarters will remain in Charlottesville with its current team of 15 employees, and expects to expand its operations and team in Virginia over the new few years.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]