# Beta Bionics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beta-bionics

- Industry: Healthcare IT
- Headquarters: Irvine, US
- Website: www.betabionics.com
- Total disclosed funding: $336M
- Latest round: Series E (Nov 13, 2024)
- Investors on record: 16

## About

Based in the US, Beta Bionics, Inc. is a pioneering medical technology firm focused on developing innovative solutions for diabetes management, particularly through its flagship insulin delivery system designed for individuals with type 1 diabetes.Beta Bionics, Inc. operates in the diabetes management sector, primarily known for its iLet Bionic Pancreas. Founded in 2015 in Irvine, US, the company has executed 11 deals to date. The latest funding round, a PIPE, raised USD 17.00 mn, bringing the total amount raised to USD 17.00 mn. The company is led by CEOs Ed Damiano and Sean Saint.Beta Bionics is primarily recognized for its flagship product, the iLet Bionic Pancreas, an insulin delivery system designed to autonomously manage diabetes for individuals with type 1 diabetes. The iLet operates by integrating with continuous glucose monitors (CGMs), such as the Dexcom CGM or FreeStyle Libre 3 Plus sensor, to continuously assess insulin requirements and administer precise doses without requiring the user to perform carb counting or adjustments manually. The latest iteration, the Color iLet, features an enhanced display with color graphics and audible alerts, aiming to improve user experience and engagement. This innovative technology is aimed at simplifying diabetes management for patients aged six and older, serving a customer base that includes individuals with type 1 diabetes across various geographical markets, including the United States and Europe.Beta Bionics generates revenue through direct sales of its iLet Bionic Pancreas systems to consumers, facilitated by prescriptions from healthcare providers. The pricing structure involves a one-time purchase of the iLet device, alongside potential recurring revenue from consumables such as insulin delivery supplies and maintenance services. The company's model is predominantly B2C, targeting end users who require ongoing diabetes management solutions. Partnerships with healthcare professionals and institutions may further enhance distribution channels, facilitating access to their products.In January 2025, Beta Bionics, Inc. raised USD 204 mn in an IPO, selling 12 million shares at USD 17 per share at Nasdaq, under the ticker "BBNX". The company plans to utilize recent funding to accelerate the development and launch of new products, aiming to expand into additional markets in Europe and Asia by the end of 2026.

## Funding rounds

- Series E, Nov 13, 2024, $60M — Marshall Wace, Wellington Management, Omega Funds, RTW Investments, Perceptive Advisors, Eventide Asset Management, Sands Capital Alternatives, Soleus Capital
- Series D, Aug 30, 2023, $100M — Marshall Wace, ArrowMark Partners, Omega Funds, RTW Investments, Pura Vida Investments, Farallon Capital Management, Perceptive Advisors, Eventide Asset Management, Sands Capital Alternatives, LifeSci Partners, Soleus Capital
- Series C, Feb 17, 2022, $57M — Novo Nordisk A/S, ArrowMark Partners, RTW Investments, Pura Vida Investments, Farallon Capital Management, Perceptive Advisors, Eventide Asset Management, LifeSci Partners, Soleus Capital
- Series B, Jul 1, 2019, $63M — ArrowMark Partners, RTW Investments, Farallon Capital Management, Perceptive Advisors, Eventide Asset Management, Soleus Capital
- Series B, Oct 22, 2018, $7.5M — Novo Nordisk A/S, RTW Investments, Eventide Asset Management
- Series B, Aug 30, 2018, $48M — Novo Holdings, ArrowMark Partners, Zealand Pharma A/S, Dexcom, Inc., RTW Investments, Eventide Asset Management, LifeSci Partners

## Investors

- Novo Holdings — Series B
- ArrowMark Partners — Series B, Series C, Series D
- Zealand Pharma A/S — Series B
- Dexcom, Inc. — Series B
- RTW Investments (https://capitalatlas.ai/funds/rtw-investments) — Series B, Series C, Series D, Series E
- Eventide Asset Management (https://capitalatlas.ai/funds/eventide-asset-management) — Series B, Series C, Series D, Series E
- LifeSci Partners (https://capitalatlas.ai/funds/lifesci-partners) — Series B, Series C, Series D
- Novo Nordisk A/S — Series B, Series C
- Farallon Capital Management (https://capitalatlas.ai/funds/farallon-capital-management) — Series B, Series C, Series D
- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series B, Series C, Series D, Series E
- Soleus Capital (https://capitalatlas.ai/funds/soleus-capital) — Series B, Series C, Series D, Series E
- Pura Vida Investments (https://capitalatlas.ai/funds/pura-vida-investments) — Series C, Series D
- Marshall Wace (https://capitalatlas.ai/funds/marshall-wace) — Series D, Series E
- Omega Funds (https://capitalatlas.ai/funds/omega-funds) — Series D, Series E
- Sands Capital Alternatives (https://capitalatlas.ai/funds/sands-capital-alternatives) — Series D, Series E
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series E