Medtronic PLC (NYSE:MDT) has been given approval by the U.S. Food and Drug Administration (FDA) for its MiniMed 670G system.
The MiniMed 670G is an artificial pancreas that is used to treat patients with Type 1 Diabetes. It is also the first Hybrid Closed Loop insulin delivery system to ever be approved. It lasts for up to 7 days and can provide varying amounts of insulin to the user.
The new system from Medtronic uses SmartGuard HC to monitor a person’s glucose and better control it without their input. It does this with the help of the company’s Guardian Sensor.
Those that use Medtronic’s Guardian Sensor will only need to “enter mealtime carbohydrates, accept bolus correction recommendations, and periodically calibrate the sensor.” It takes care of everything else for them.
Medtronic’s MiniMed 670G can also be customized to supply patients with insulin when they need it. The system uses algorithms to determine when the patient will need an insulin boost and provides it to them. It also allows patients and providers to have control over how automated the system is.
“This significant milestone represents an important step forward in the management of type 1 diabetes and will improve the quality of life for those living with this chronic disease,” Derek Rapp, CEO of JDRF, which funds type 1 diabetes research, said in a statement. “We are very encouraged by the speed in which this groundbreaking technology was approved by the FDA.”
MDT stock was down 1% as of Thursday afternoon.
