Israeli startup Insulog, which has created a device that helps diabetes patients keep track of their insulin doses, on Wednesday started a campaign to raise $50,000 via the crowdfunding platform Indiegogo.
The funds, said CEO and founder of the Ramat Gan-based firm Menash Michael, will help the company get the necessary US Food and Drug Administration and European permits to market the product. Contributors to the campaign will be able to get the product for $119, delivery of which will take place in summer 2017 when the approvals are in place, he said.
Diabetes patients who use an insulin pen to inject the hormone must remember to take the right dose at the right time, to help maintain stable sugar levels in the blood and to avoid over- or under-dosing, which could lead to life-threatening situations.
Even the most conscientious of patients can have a tough time managing the condition: they need to remember what they ate along with when they took their last dose of insulin and how many units they injected.
Indeed, Michael, who has suffered from Type 1 diabetes for over 30 years, ended up in the emergency room after he accidentally over-injected himself with insulin. After that experience, he came up with the idea for the smart, connected insulin tracker, the Insulog, to help diabetic patients like himself keep track of their medication regimen.
The device, which snaps on to most types of disposable insulin pens, is equipped with smart sensors follow the pen vibrations and that reset each time a new dose of insulin is administered. An algorithm analyzes the clicks of the insulin pen, record the amounts taken and sends the information to a smartphone app. The pairing with the app enables users to view their entire injection history and share the information with their physician.
When the Insulog device is turned on for reuse, it displays data from the user’s most recent dose, showing when the last injection was administered and the quantity taken.
After his overdose, “now, I am hyper-alert of my insulin intake, and Insulog helps me to never make that mistake again,” said Michael, who founded the company in 2014. “There are hundreds of millions of people in the world who could greatly benefit” from the device, he said.
In 2012, 29.1 million people in the US had diabetes, or 9.3 percent of the population, according to the American Diabetes Association. Diabetes was the seventh leading cause of death in the US in 2010. Some 1.4 million Americans are diagnosed with diabetes every year.
The company is also in talks with foreign and Israeli medical devices distributors, Michael, a former diamond manufacturer, said.