NEW YORK, NY--(Marketwired - Jul 2, 2013) - While Medtronic, Inc. and Johnson & Johnson are developing devices that can essentially act as a type of "artificial pancreas," Nuvilex, Inc.'s (
At the end of June, both Medtronic and Johnson & Johnson presented results from separate studies using their medical insulin pumps at the American Diabetes Association meeting in Chicago. The idea behind the "smart" pumps is to mimic a healthy pancreas by offering diabetics a type of artificial pancreas that can successfully monitor changes in blood sugar levels and then adjust the insulin being delivered to the diabetic in response to those changes.
As the two NYSE-traded companies turn to medical devices to act as their brand of artificial pancreas, the small, Silver Spring, Maryland-based biotech, Nuvilex, is turning to a much smaller and different option -- transplanted living, insulin-producing cells enclosed in capsules about the size of the head of a pin, that form a bundle and act as a miniature cell factory that produces insulin upon demand inside the diabetic's body.
According to the International Diabetes Federation, 371 million people around the world have been diagnosed with diabetes and another 187 million remain undiagnosed. As the number of diagnosed diabetics around the world grows, so too does the market for a solution. By 2020, the market for diabetes medicines and treatments is projected to reach $65 billion worldwide.
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