Beta Bionics

What Beta Bionics does

Beta Bionics is a commercial-stage medical technology company that develops and markets the iLet Bionic Pancreas, an FDA-cleared automated insulin delivery system for people with type 1 diabetes aged six and older. The iLet integrates the iLet ACE Pump, proprietary iLet Dosing Decision Software, and continuous glucose monitor data (Dexcom G6/G7 and Abbott FreeStyle Libre 3 Plus) into a closed-loop platform that autonomously makes 100% of insulin dosing decisions through an adaptive algorithm requiring only patient weight to initiate therapy. The system was FDA-cleared in May 2023 and commercially launched in December 2023, with the Color iLet variant introduced in 2024 adding a color display, louder alerts, and expanded CGM interoperability.

The company's business model blends one-time hardware revenue from the iLet device with a high-margin recurring consumables stream (insulin cartridges and infusion sets) and a software/data layer that includes the Bionic Circle remote-monitoring app, Bionic Insights for clinicians, and a public Real-World Data Dashboard. Distribution runs through both Durable Medical Equipment (DME) providers and a Pharmacy Benefit (PBP) channel where patient out-of-pocket costs are approximately $25 per month versus $500 to $1,500 under DME; the PBP channel is now projected to account for 36–39% of new patient starts in 2026. Commercial motion combines an enterprise field sales force targeting endocrinologists (with 20+ new territories added in Q1 2026), certified trainer programs, HCP webinars, the Bionic Universe patient community, and a direct-to-patient Pharmacy Advantage Program offering $0 to start with the first 30 days free.

Beta Bionics is publicly traded on NASDAQ under ticker BBNX, headquartered in Irvine, California with operations in Massachusetts, and was founded in 2015. The company has raised over $282 million in venture funding across Series C ($57M, 2022), Series D ($100M, 2023), and Series E ($60M, 2024) rounds, and reports a net cash position of approximately $240 million. Full-year 2025 net sales were $100.3 million, up 54% year-over-year on an installed base that roughly doubled to 35,000 users, and 2026 revenue is guided to $131–136 million. The product roadmap extends to the Mint semi-durable patch pump targeted for full launch by end of Q2 2027 and a bihormonal system in development.

Name

Beta Bionics

Legal name

Beta Bionics, Inc.

Website

https://betabionics.com

Company type

Public

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Beta Bionics is a commercial-stage medical technology company that develops and sells the iLet Bionic Pancreas, an FDA-cleared automated insulin delivery system using adaptive algorithms for type 1 diabetes patients aged six and older in the United States.

Ownership category

akta.pro rank

Product category

Automated Insulin Delivery Devices

NAICS

Surgical Appliance and Supplies Manufacturing (339113)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Automated Insulin Delivery (AID) / Closed-Loop Systems (HLAHAHAF)

akta.pro secondary industries

Insulin Pumps & Patch Pumps (HLAHAIAG), Diabetes (General) (HLAKADAA)

Keywords

• Automated insulin delivery
• Bionic pancreas systems
• Diabetes management devices
• Continuous glucose monitoring
• Insulin pump therapy

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. iLet Device Sales: Sales of the iLet Bionic Pancreas hardware device to patients through DME and pharmacy channels, representing initial customer acquisition revenue.
2. Recurring Supply Revenue: Recurring revenue from insulin cartridges, infusion sets, and other consumables. As the pharmacy installed base crossed the accretion threshold, high-margin recurring supply revenue has become a primary profit driver. Q1 2026 gross margin expanded to 59.5%, up 864 basis points year-over-year.
3. Pharmacy Channel Revenue: Revenue through pharmacy benefit with significantly lower patient out-of-pocket costs (~$25/month) compared to DME reimbursement ($500-$1,500), driving volume growth in new patient starts with high-30s percentage of new starts now coming through pharmacy.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Beta Bionics develops and sells the iLet Bionic Pancreas, an FDA-cleared automated insulin delivery system consisting of the iLet ACE Pump paired with the iLet Dosing Decision Software. The system integrates with Dexcom G6/G7 and Abbott FreeStyle Libre 3 Plus continuous glucose monitors and uses a proprietary adaptive algorithm to autonomously determine 100% of insulin doses for people with type 1 diabetes aged six and older. Revenue is generated from hardware device sales plus high-margin recurring revenue from consumable insulin cartridges and infusion sets, distributed through Pharmacy Benefit and Durable Medical Equipment reimbursement channels.

Product overview

Beta Bionics is a commercial-stage medical technology company offering the iLet Bionic Pancreas, an FDA-cleared automated insulin delivery system for type 1 diabetes. The core product consists of the iLet ACE Pump hardware, iLet Dosing Decision Software, and compatible continuous glucose monitors (Dexcom G6/G7 and Abbott FreeStyle Libre 3 Plus). The system is distinguished by its adaptive autonomous algorithm that requires only patient weight to initiate therapy and makes 100% of dosing decisions. Companion products include the Bionic Circle App for remote monitoring, iLet Mobile App for device control, Bionic Insights for clinical decision support, and the Pharmacy Advantage Program for acquisition. The company is developing the Mint semi-durable patch pump and a bihormonal system.

Differentiator

Problem solved

Functional benefit

Brands

• iLet Bionic Pancreas: Automated insulin delivery system that reduces the need for manual diabetes management decisions by making 100% of insulin dosing decisions automatically.
• Bionic Circle App
• iLet Mobile App

Quantifiable outcome

• Average HbA1c reduction from 9.0% to 7.4% (1.6% improvement) across real-world patient population
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• DexcomcoreTechnology or Integration · 12 May 2026Dexcom is a critical technology partner providing CGM integration for the iLet Bionic Pancreas. The system is compatible with Dexcom G6 and G7 sensors, enabling automated insulin dosing based on continuous glucose readings. Beta Bionics announced iLet integration with Dexcom G7 15-day sensor.
• Abbott LaboratoriescoreTechnology or Integration · 19 May 2023Abbott is a technology partner providing FreeStyle Libre 3 Plus CGM sensor integration for the iLet Bionic Pancreas. Beta Bionics announced launch of iLet with Abbott's FreeStyle Libre 3 Plus sensor, making iLet the only AID system compatible with both Dexcom and Abbott CGMs.
• Novo NordiskminorStrategic or Co-development Partner · 18 February 2022Novo Nordisk participated as a clinical trial partner and investor in Beta Bionics' artificial pancreas development, including in the Series C funding and pivotal trials for the iLet device.
• Eli LillyminorStrategic or Co-development Partner · 18 February 2022Eli Lilly participated as a clinical trial partner and investor in Beta Bionics' artificial pancreas development, including in the Series C funding and pivotal trials for the iLet device.
• Zealand PharmaminorStrategic or Co-development Partner · 18 February 2022Zealand Pharma participated as a clinical trial partner and investor in Beta Bionics' artificial pancreas development, including in the Series C funding and pivotal trials for the iLet device.
• ConvateccoreTechnology or IntegrationConvatec supplies infusion sets (Inset and Contact Detach) for use with the iLet Bionic Pancreas. Both 6mm cannula length variants are available as compatible infusion sets for iLet users.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tandem Diabetes Care: Direct AID competitor with the t:slim X2 insulin pump and Control-IQ algorithm, serving the same Type 1 diabetes patient population with a comparable closed-loop system integrated with Dexcom CGMs.
• Insulet Corporation: Direct AID competitor offering the Omnipod 5 tubeless patch pump with SmartAdjust algorithm, competing head-to-head with iLet for Type 1 diabetes patients and pharmacy benefit reimbursement.
• Medtronic Diabetes: Direct AID competitor with the MiniMed 780G closed-loop system; broader incumbent with larger installed base, established payer relationships, and integrated CGM (Guardian 4).

Broad incumbents

• Dexcom: Core CGM technology partner to Beta Bionics (Dexcom G6/G7) and adjacent competitor pursuing its own AID partnerships; comparable in the broader automated glucose management ecosystem and a key dependency for iLet dosing.
• Abbott Diabetes Care: FreeStyle Libre 3 Plus CGM partner to Beta Bionics and adjacent incumbent in diabetes technology; acquired Bigfoot Biomedical in 2023, signaling strategic interest in the insulin delivery space.
• Roche Diabetes Care: Broad incumbent in diabetes (Accu-Chek) that previously operated in insulin pumps and now focuses on integrated diabetes management; comparable as a large diabetes player though no longer a direct pump competitor.

Emerging players

• Diabeloop: European emerging AID developer with proprietary self-learning algorithm (DBLG1) integrated with multiple pumps and CGMs; directly comparable technology approach though currently focused on EU markets.
• Sequel Med Tech: Emerging insulin pump developer (twiiq) targeting Type 2 and Type 1 diabetes with a focus on affordability and simplification; potential future AID competitor with simplified user experience.
• Modular Medical: Early-stage patch pump developer (MODD1) pursuing FDA 510(k) clearance for a simple, affordable insulin delivery platform targeting the same Type 1 / pump-naive segment Beta Bionics is converting.
• CamDiab: UK-based emerging AID developer with the CamAPS FX algorithm used in multiple European pump integrations; comparable closed-loop technology approach with growing clinical evidence base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCwN8xLvTIDGcXLmO1Pk2W8Q
• Facebookfacebook.com/betabionics
• LinkedInlinkedin.com/company/beta-bionics
• Instagraminstagram.com/betabionics
• Xx.com/betabionics

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds10 records

Investors17 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Beta Bionics