There’s a new device for diabetes that is about to become available to patients in the United States. And it has the potential to change the paradigm of treating diabetes permanently.

‍What’s happening:‍

• Modular Medical (NASDAQ: MODD) has been granted official approval from the United States Food and Drug Association to sell their MODD1 medical device for diabetes patients
  

The big idea:‍

• The MODD1 is a leading edge insulin pump aiming be one of the most simple insulin pumps for patients to use and accelerate the ability for patients to easily transition from multiple daily insulin injections to managing their diabetes through using a pump
  
• The MODD1 pump also provides precise micro-doses of insulin which limits excessive insulin exposure for patients
  
• Modular Medical’s device is suitable for any adult with Type 1 or Type 2 diabetes
  

Why it matters:‍

• Diabetes is an enormous healthcare challenge for patients and traditional insulin pumps are both complex to use and very expensive, which has restricted the accessibility of them being adopted by the majority of diabetes patients
  

By the numbers:‍

• Modular Medical anticipates their MODD1 device will be available for patients within 12 months
  
• Only 1 in 3 diabetes patients in the United States currently use a diabetes pump
  

Going deeper:‍

• Modular Medical plans to leverage their recent approval from the Food and Drug Association to apply for international clearances in Canada, the United Kingdom and Europe
  

Market reaction:‍

• Shares of Modular Medical are up +15% since the announcement

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