SAN DIEGO, CA / January 19, 2024 / Modular Medical, Inc. (NASDAQ:MODD) ("Modular Medical" or the "Company"), a development-stage, insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, announced the premarket submission of its MODD1 next-generation insulin pump to the FDA for 510(k) clearance.
"This is an exciting milestone for the Company, as we seek to change the diabetes market. Almost 30 years after the introduction of the first insulin pump, more than three quarters of those who could benefit from wearing a pump do not wear one. It is our belief that our simplified design will encourage many "almost-pumpers" to adopt technology to aid in their diabetes management, without the complexity and expense required by many of the current solutions," said Paul DiPerna, Chairman and CTO of Modular Medical.
Jeb Besser, CEO of Modular Medical, stated "Getting a person who requires daily insulin to adopt a pump instead of multiple daily injections can reduce healthcare costs and improve long-term patient outcomes. Pump adoption has been impeded by the ‘three-Cs:' they are too complex, cumbersome and costly. The MODD1 was designed to be simple and affordable with an attractive form factor. We believe our two-part patch pump design, easy to learn interface and scalable manufacturing will all contribute to a differentiated and lower cost marketing approach."... Modular Medical's Press Release -
