Beta Bionics announced that Express Scripts added its iLet bionic pancreas and associated supplies to its commercial national formulary offerings.
The decision enables faster and easier access to iLet for eligible users with plans that cover the system under their pharmacy benefit. It marks more good news for Beta Bionics, which closed a $100 million funding round a few months ago.
Historically, insulin pumps fall under the durable medical equipment (DME) insurance benefit. This can lead to significant up-front hardware costs to initiate therapy. Coverage under a pharmacy benefit can reduce the potentially large upfront cost of the pump for the patient and payer. The company said this allows patients to upgrade their insulin pump when new technology becomes available.
Concord, Massachusetts-based Beta Bionics designed its iLet autonomous insulin delivery system to streamline diabetes management. The system, which reduces the burden on patients and physicians, received FDA clearance in May.
“This is a significant milestone in the growth and rapid commercial launch of the iLet Bionic Pancreas,” said Beta Bionics CEO Sean Saint. “Now that the iLet has been added to the Express Scripts National Commercial Formularies, members of plans that cover the iLet Bionic Pancreas under the pharmacy benefit and select one of these formularies will have a streamlined process as opposed to the traditional DME channel that is standard in the diabetes industry.
“Beta Bionics wants to make it as easy as possible for users to access this transformational device and to open the door for many more people with insulin-dependent type 1 diabetes across the U.S. to gain access to the iLet.”