IPO proceeds to advance bihormonal tech and patch pump.
Beta Bionics, maker of the FDA-cleared iLet bionic pancreas, aims to raise $114.4 million through an initial public offering (IPO). The company plans to list on the Nasdaq under the ticker “BBNX” with shares priced between $14 and $16.
Key Details
- Shares Offered: 7.5 million, plus an optional 1.125 million shares for underwriters.
- Proceeds Usage:
- Advance bihormonal iLet system development through FDA submissions.
- Develop a patch pump to rival Insulet, Tandem, and Medtronic.
- Expand sales and manufacturing infrastructure.
About iLet Bionic Pancreas
The iLet system, cleared in May 2023, automates insulin dosing with no need for carb counting or correction calculations. Users only input their weight to begin therapy.
Funding History
- Series E: $60M in Nov. 2024.
- Series D: $100M in Aug. 2023.
Beta Bionics continues to lead the way in simplifying diabetes management and expanding its innovative technologies.
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