Beta Bionics Appoints Sean Saint as CEO and Board Member

Concord, Massachusetts, UNITED STATES


Caution: The iLet® Bionic Pancreas and iLet Duo™ are investigational devices limited by Federal (or United States) law to investigational use. Not available for sale.

CONCORD, Mass., Aug. 15, 2022 (GLOBE NEWSWIRE) -- Beta Bionics, Inc. — a clinical-stage medical technology company committed to the design, development, and commercialization of the iLet® Bionic Pancreas System — today announced the appointment of Sean Saint to the role of Chief Executive Officer. Mr. Saint will also serve on the Beta Bionics Board of Directors. Martha Goldberg Aronson, who has served as interim CEO since February, will work with Mr. Saint through a transition period and will remain on the Beta Bionics Board of Directors.

Mr. Saint — an engineer, entrepreneur, diabetes technologist and innovator, and person with type 1 diabetes — was selected after an exhaustive search by the Beta Bionics Board of Directors in partnership with a third-party executive search firm. Mr. Saint brings extensive experience to the role of CEO and has a proven track record of marrying innovative product development with commercial expertise. He began his career in medical technology as an engineer at Medtronic/AVE. In 2003, he began working in the diabetes device industry in technical and management roles of increasing responsibility at companies including Dexcom and Tandem Diabetes Care. After many years of working in the diabetes device industry, Mr. Saint developed type 1 diabetes. From the personal experience that came with living with type 1 diabetes, Mr. Saint added new perspective to his career and in 2013 founded Companion Medical, maker of the InPen. As CEO of Companion, Mr. Saint led the team through the development and launch of the InPen, and ultimately the acquisition of the company by Medtronic in 2020. Mr. Saint graduated from California Polytechnic State University, San Luis Obispo, with a mechanical engineering degree and is an inventor on more than 175 issued patents and pending patent applications.

“I am very pleased to welcome Sean Saint to Beta Bionics as our new CEO,” said Dr. Ed Damiano, Founder and Executive Chair of Beta Bionics. “Sean has a fierce commitment to improving the lives of people with diabetes and deep roots — both personal and professional — in type 1 diabetes and the diabetes medical technology industry. He also has a long history with the bionic pancreas, as he took the lead at Tandem Diabetes over 10 years ago to collaborate with me and my team at Boston University to build the very first wearable version of the bionic pancreas on a mobile device platform. Sean blends a remarkably rare set of talents, experiences, leadership, and passion for positively impacting the lives of people with diabetes. He is uniquely qualified, and the best possible person in my mind, to lead Beta Bionics as we cross the bridge from a purely R&D and clinical-stage company to the commercial-stage organization we plan to soon become. I would also like to take this opportunity to express my appreciation to Martha for her willingness to step into the role of interim CEO over these past six months and for her dedication and commitment to Beta Bionics.”

"I met Ed Damiano in 2011 and was extremely impressed by what he and his team were doing,” said Mr. Saint. “I am pleased to say I was able to support Ed on some of his early work on the bionic pancreas at Boston University. I never could have envisioned that I would later be given the opportunity to join Beta Bionics as CEO. I am thrilled that I can now join the team to help bring Ed’s vision to fruition. As a person with type 1 diabetes myself, I am excited to lead the Beta Bionics team in bringing the truly novel iLet system to market. In addition, I am as excited as ever to continue advancing our bihormonal iLet program."

The results of the Insulin-Only Bionic Pancreas Pivotal Trial were announced in April of 2022 and Beta Bionics has filed a submission with the FDA for clearance of the iLet Bionic Pancreas System, which carries a Breakthrough Device Designation. These milestones position the organization well for successful commercialization of the iLet Bionic Pancreas System following FDA clearance.

About the iLet Bionic Pancreas
The iLet is a pocket-sized, wearable investigational medical device designed to autonomously dose insulin. It is designed to be worn like an insulin pump; however, iLet users would enter only their body weight to initialize therapy and would not set any insulin regimen parameters. The iLet is designed to then automatically titrate and infuse insulin without requiring the user to count carbohydrates, set insulin-to-carbohydrate ratios, set insulin basal rates, set correction factors, or determine bolus insulin for meals or corrections. The technology is designed to help a broad base of people who wish to use technology to manage diabetes.

About Beta Bionics
Beta Bionics® is a clinical stage medical technology company focused on the design, development, and commercialization of its iLet Bionic Pancreas in both the insulin dosing (the iLet) and bihormonal (iLet Duo™) configurations. The iLet Bionic Pancreas platform is designed to use adaptive, self-learning, control algorithms, together with continuous glucose monitoring and pump technology, to autonomously compute and administer doses of insulin and/or glucagon and mimic the body’s natural ability to maintain tight glycemic control. Beta Bionics is a for-profit, public benefit corporation and Certified B Corporation™. Since its founding in 2015, its mission is to help improve health outcomes and the quality of life of children and adults living with diabetes and other conditions of glycemic dysregulation.

Beta Bionics operates in Massachusetts and California. For further information, visit www.betabionics.com or follow Beta Bionics on Facebook, YouTube, Instagram, LinkedIn, and Twitter @BetaBionics.

Caution: The iLet® Bionic Pancreas and iLet Duo™ are investigational devices limited by Federal (or United States) law to investigational use. Not available for sale.

Investor Relations Contact:
ir@betabionics.com

Media and Public Relations Contact:
Katy O’Neill
Beehive Strategic Communication
media@betabionics.com