Press Release July 16, 2019

Beta Bionics Announces Closing of a $63 Million Series B2 Financing

The Life Sciences team advised Beta Bionics, a medical technology company leveraging lifelong autonomous learning to develop and commercialize the world’s first fully automated bionic pancreas, on a $63 million Series B2 equity financing. This follows six months after the final close of another $63 million equity financing and brings the total combined Series B and B2 financings to just over $126 million.

The Series B2 financing round was co-led by new investors Perceptive Advisors and Soleus Capital Management. In addition, Farallon Capital joined the round as a new investor in Beta Bionics. Series B lead investor, Eventide, together with RTW and ArrowMark, all participated in the Series B2 round. Beta Bionics will use the proceeds from these financings to complete final product development, phase 3 clinical trials, regulatory submissions, and product launch of the iLet Bionic Pancreas System.

Beta Bionics is a for-profit Massachusetts public benefit corporation founded in 2015 to commercialize the iLet, a revolutionary bionic pancreas that is driven by mathematical dosing algorithms, which incorporate lifelong machine-learning, and artificial intelligence to autonomously control glycemia.

The Goodwin team included partners Rob Puopolo and Seo Salimi, counsel Nicole Daley, and law clerk Isabel Klosterman.

For more details, please read Bio Bionic’s press release.