Insulet acquires ~400 patents from Bigfoot Biomedical for $25M, licenses others

INSULET CORP

Acquired ~400 patents and a significant number of patent applications from Bigfoot; $25M one-time fee.
Insulet gets exclusive, sublicensable license to Step-In Patents in pump-based drug delivery (Insulet Field).
Bigfoot retains exclusive license to same patents for injector-based drug delivery (Bigfoot Field).
Non-Step-In Patents are licensed non-exclusively to Insulet in Insulet Field.
Insulet may take possession of Bigfoot's molds and tooling for Insulet Field within one year.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INSULET CORP entered into Patent Assignment and License Agreement with Bigfoot Biomedical, Inc. and Patients Pending, Ltd. (collectively, "Bigfoot") (effective 2023-02-09).

Action: entry
Agreement: license
Counterparty: Bigfoot Biomedical, Inc. and Patients Pending, Ltd. (collectively, "Bigfoot")
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, Insulet Corporation (the “Company”) entered into a Patent Assignment and License Agreement with Bigfoot Biomedical, Inc. and Patients Pending, Ltd. (collectively, “Bigfoot”) pursuant to which the Company acquired from Bigfoot approximately 400 patents as well as a significant number of patent applications, and licensed a significant number of additional patents and patent applications on a fully paid-up exclusive or non-exclusive basis.

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INSULET CORP filing history →

Source: SEC EDGAR

accession 0001145197-23-000004

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