Help Bring Timesulin to the US
I’ve talked about the important ingredient added to Novo Nordisk’s Echo Pen and Will DuBois was over the moon about it! <> But the flip side of this story is that we only have one insulin pen, in the US, that offers us a memory cap. And it works for only one type of insulin, which rapid acting insulin. So what about my flex pen Levemir (also a Novo Nordisk product), or my choice of rapid acting, Apidra? How about a Humalog brand? All of these are products that are important to us, but have no memory cap. How can this be an untapped market opportunity?
Timesulin is a British-based company that makes a memory cap that shows time and last dose and it fits most pens currently on the market. And, even better, it is now ready to jump the pond. Timesulin,, established in 2010, is a company that has focused on simplicity of use and on the unmet need of creating a solution for one of diabetes' biggest problems: forgetting to take your shot. And, there isn’t one among us who hasn’t had that brain fart. Timesulin CEO, John Sjolund, has been living with type 1 diabetes since he was three and understood the unmet need first hand!
Timesulin has been trying to leap the pond for a while, but with no success. According to John Sjolund,“The Timesulin team and I have been frustrated at our ability to crack the barriers to entry into the United States. Crowdfunding allows us to empower people with diabetes, just like us, to decide for themselves which tools they need to manage their diabetes in the best possible way.” Typically, to get a medical device through FDA process it takes 3-4 years longer then EU counterparts. Some of these contributing factors include:
- Requirements for U.S. regulatory registration on medical devices are lengthy and more expensive than elsewhere.
- The sheer size of the U.S., which makes distribution and logistics a challenge.
- The costs of marketing a new brand in a market cluttered with medical advertising from big pharmaceutical brands with enormous budgets.
So, in order for Timesulin to leap the pond, Timesulin needs our input and our money, and I’m all behind that, because it’s another avenue for making living with diabetes easier.
Today, Tuesday March 11, 2014, kicks off their crowdfunding campaign for U.S. approval. The campaign funds will help with several things:
- Raise the funds necessary to create and submit an application for FDA approval, which needs to be adapted from the international applications used elsewhere.
- Obtain the necessary market approvals and prepare for unknown demand and long application times.
- Highlight the enormous hurdles small companies face when bringing their product to the United States.
- Create an awareness of Timesulin amongst the U.S. diabetes community and make Timesulin available to the thousands of nurses, doctors and patients who want to use it.
Crowdfunding is fast becoming the new way of investing in start ups and getting a personal say in the matter. Will I donote? Whether or not I use the cap, you bet I will, because it supports my community!