Q: Can you explain what TypeZero is doing?
A: TypeZero is a healthcare technology company based in Charlottesville that revolutionizes the way the world manages and treats Diabetes. The company’s core technology, the inControl Diabetes Intelligence Platform, consists of a proprietary software “engine” that makes use of mobile electronics to integrate the medical devices used in the treatment of diabetes (Insulin pumps, CGMs and SMBG meters) into an effective, interoperable network that enables safer, more effective blood glucose management.
One of the most powerful implementations of this solution, commonly referred to as “artificial pancreas” technology, transforms a patient’s role in managing his or her blood glucose from hour-to-hour, active decision-making and modification to periodic supervision of a trustworthy, automated, and intelligent closed-loop system. In addition to its Artificial Pancreas software platform, TypeZero is developing a suite of cloud based applications and analytical services, which utilize its core algorithms to provide risk analysis, prediction, clinician advice, patient support and training for patients, caregivers, clinicians and insurers.
TypeZero’s team coalesced while developing the world’s most advanced research-focused “artificial pancreas” program at UVA’s Center for Diabetes Technology.
All of TypeZero’s technologies are designed to empower patients, clinicians, and caregivers by dramatically improving glycemic control. By successfully delivering on this goal TypeZero can practically eliminate the human and economic costs associated with the diabetes epidemic, which accounts for more than $240 billion in health care costs annually in the U.S. alone.
TypeZero’s business model reflects the flexibility of its core technology, combining direct revenues from applications and service subscriptions, royalties from partner products and white-labeled data services.
Q: When and how did your company get its start?
A: TypeZero was founded in 2013 when Chad Rogers, a serial entrepreneur in the software and medical device industry, was introduced to a number of leaders at UVA’s Center for Diabetes Technology (CDT). Dr. Kovatchev, Dr. Patek, Dr. Breton and Dr. Keith-Hynes, the inventors of TypeZero’s technology assets and intellectual property, had spent more than a decade working on advancing the field of diabetes management, most specifically Artificial Pancreas (AP) solutions. The founding team recognized the incredible progress made from more than 7 years of clinical trials in this field and the maturity of the software platform and decided to revolutionize the treatment and management of diabetes by starting a new company to commercialize this groundbreaking research.
Core technology is based on 10+ years of research and development at the UVA Center for Diabetes Technology.
- NIH, JDRF, UVA, Helmsley, and others have invested more than $12.5 million
- Technology has been subject to over 134,000 hours of human clinical trials with over 425 patients
- 24 FDA-approved IDE trials at 9 sites worldwide
- 18 patents issued or pending
Q: What are your visions for TypeZero over the next 5-10 years?
A: First, we need to ensure that our diabetes management technology works seamlessly with all devices currently available in the market in order to provide end-users the choice to select the devices they desire based on their very own lifestyle. Fulfilling this goal will require strong partnerships with current device makers and standardization of data management standards, all of which requires a coordinated and combined effort from everyone involved in the industry.
Second, we seek to extend the flexibility of our capabilities to also cater to Type 2 Diabetic patients. This will require us to work together with existing payors to tackle the growing challenge of Type 2 and helping improve patient lifestyle through actionable data analytics.
Finally, we believe that we are merely scratching the surface of what data management and processing can do for healthcare. We will continue to research and develop our technological capabilities to cover a wider range of chronic diseases, with the aim to improve healthcare management.
Q: Are you currently raising capital?
A: To date, TypeZero has raised seed capital and been awarded an SBIR Phase 1 grant and can leverage more than $20 million of NIH funding to run future clinical trials but in order to capitalize on this opportunity TypeZero will need to raise its Series A. The company is looking close its Series A in fall 2015 and is looking to close approximately $5.0 million to produce the first commercially viable version of its inControl Diabetes Intelligence Platform.
Q: Do you have any additional comments?
A: Anyone wishing to contact TypeZero for investment opportunities should contact Chad Rogers, CEO at firstname.lastname@example.org.