Insulet Announces Development Agreement for the First Non-Diabetes Drug Delivery Application for the Omni...( BEDFORD Mass. June 3 /- Insulet C...),Health

BEDFORD, Mass., June 3 /PRNewswire-FirstCall/ -- Insulet Corporation (Nasdaq: PODD), a leader in wearable insulin pump technology with its OmniPod(R) Insulin Management System, today announced an agreement with Ferring Pharmaceuticals, of Saint Prex, Switzerland, to develop the OmniPod System for the delivery of a Ferring drug. This is Insulet's first development agreement for a non-diabetes drug delivery application.

Under the terms of the agreement with Ferring, Ferring will fund development of a custom version of the OmniPod's Personal Diabetes Manager and, upon completion of the development, will agree to purchase minimum quantities of the OmniPod Systems over a five year period, beginning in 2009. Financial terms were not disclosed.

Duane DeSisto, president and chief executive officer of Insulet said, "We are pleased to partner with Ferring to develop an OmniPod for the delivery of a women's health treatment, as a first step toward expanded applications of the OmniPod System for drug delivery. We believe the OmniPod System can be an effective platform technology for the delivery of other drugs that require continuous or frequent infusions."

About Insulet Corporation

Insulet Corporation is an innovative medical device company dedicated to improving the lives of people with diabetes. The Company's OmniPod Insulin Management System is a revolutionary, discreet and easy-to-use insulin infusion system that features two easy-to-use parts with no tubing and fully-automated cannula insertion. Through the OmniPod System, Insulet seeks to expand the use of continuous subcutaneous insulin infusion (CSII) therapy among people with insulin-dependent diabetes. Founded in 2000, Insulet is based in Bedford, MA.

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