A path to nowhere
This morning we read that Beta Bionics raised another $57 million – the official press release states
“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 completion of a $57 million Series C equity financing. Proceeds from the financing will support product development, regulatory submissions, and preparations for the commercialization of the insulin dosing iLet® Bionic Pancreas System following FDA clearance.”
Are we shocked by this? Nope. Will the iLet be commercially successful? Nope. So why then did these smart people invest even more . . .
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