Insulog launched a crowdfunding campaign for a connected insulin tracker for diabetics who use insulin pens. The device targets an unmet need in this population, in which many patients still use pen and paper or manual data entry to manage their disease.
The Insulog device clips onto any major insulin pen. A patient selects the number of insulin units he or she needs to inject by turning a dial at the end of the pen. Insulog has smart sensors that record the vibrations when the dial is turned and an algorithm that analyzes the clicks to log the amount of insulin delivered, the company said in a statement.
When the device is turned on for a new injection, the device displays data from the previous dose, according to the statement. Insulin dose data is also uploaded via Bluetooth to an accompanying mobile app, where patients may view their injection history. While patients who want to share their data with their physician must bring their mobile device with them to the appointment, Insulog CEO Menash Michael hopes that Insulog data will be transmitted to the cloud in the future. From there, the patient will be able to choose with whom he or she wants to share the data.
While similar trackers are already on the market, what sets Insulog’s apart is the connectivity that automatically collects a repository of injection data. Dublin-based InsulCheck sells a similar device that is used to check when a patient last injected insulin. And London’s Patients Pending offers Timesulin, a replacement cap for an insulin pen that tells patients how long ago they took their last dose. Companion Medical’s smart insulin pen earned FDA clearance for use with Lilly’s Humalog and Novo Nordisk’s Novolog this summer, but it will not hit the market until next year. Like Insulog, it automatically tracks insulin doses and transmits the data to a mobile app.
The company went the crowdfunding route because it wanted to bring the device to the attention of the people who need it most, Michael said. Insulog is focusing on patients for the campaign, but is also targeting distributors. Its primary target market is the U.S., Michael said.
Insulog isn’t the first med tech startup to seek crowdfunding either. In July last year, SmartCardio kicked off a crowdfunding campaign to bankroll its wearable heart disease diagnostic. But when the campaign closed, the company had only managed to raise $428 of its $60,000 goal. Meanwhile, Vertisense tried to crowdfund its smart breathalyzer-and-app combo to the tune of $25,000, but only reeled in $3,045 when the campaign closed. Will Insulog fare better? Only time will tell.