Hamilton, April 15 2016 – The first Global Report on Diabetes issued by the WHO demonstrates that the number of adults living with diabetes has almost quadrupled since 1980 to 422 million adults. The vast majority, around 90%, has type 2 diabetes, and many who fall into this category are overweight or obese.
The report estimates that the direct annual cost of diabetes worldwide is more than US$827 billion, with global healthcare spending on diabetes more than tripling over the period 2003 to 2013. One study quoted in the report estimates that losses in worldwide GDP linked to diabetes will total US$ 1.7 trillion during the period 2011-2030, comprising US$900 billion for high-income countries and US$ 800 billion for low- and middle-income countries.
“The staggering increase in healthcare spending over the last three decades emphasizes the growing need to provide safer and more cost-effective treatments for type 2 diabetes,” said Adrian Gilmore, MetaCure’s CEO. “MetaCure’s DIAMOND system, an implantable device that sustainably reduces blood glucose levels by applying electrical stimulation to the stomach during meals, could address this need for many type 2 diabetics who are unable to manage their blood sugar levels with oral medications. This therapy restores the physiological synchronization between food intake and natural hormone secretion, and lowers post meal glucose levels. The DIAMOND system has also been shown to promote weight loss and improve systolic blood pressure, both of which are very important factors for people with diabetes.”
According to the WHO report, the lack of access to affordable insulin remains a key impediment to successful treatment for diabetes, resulting in needless complications and premature deaths. Initial clinical studies have shown DIAMOND therapy to be as effective as insulin treatment while avoiding most of the side effects and the inconvenience of frequent blood tests and injections. “We are committed to demonstrating the value of the DIAMOND device for patients and healthcare systems globally, and look forward to it being an integral part of the multicomponent intervention called for by the WHO to address the diabetes pandemic,” Gilmore said.
About type 2 diabetes
Type 2 diabetes is a metabolic disorder characterized by hyperglycemia resulting from inadequate insulin secretion or insulin resistance. The most common form of diabetes, it represents 90% of all cases. Often referred to as a pandemic, it is estimated that over 400 million people worldwide are affected by diabetes, with management costs exceeding $800 billion annually.
About DIAMOND therapy
DIAMOND therapy is delivered via an implantable medical device which has the potential to be used as an alternative to insulin. The safety and efficacy of DIAMOND therapy have been validated in clinical trials involving over 300 patients, including a pilot study which demonstrated a comparable effectiveness to insulin treatment, but avoiding many side-effects and the inconvenience of frequent blood tests and injections. Designed to treat type 2 diabetes in obese patients who are refractory to oral medication, DIAMOND therapy is delivered via a small pacemaker-like device implanted in the abdomen, which delivers electrical signals to the stomach when eating, improving glycemic control and promoting weight loss. DIAMOND has received CE mark and is approved for sale in Europe, Australia and other international markets; it is currently not approved for use in the USA. For more information, visit www.MetaCure.com/DIAMOND.
MetaCure, a member of the Hobart Group companies, aims to provide a better way to manage type 2 diabetes, focusing on the impact on the day-to-day lives of patients. It develops, produces and markets the DIAMOND therapy, an alternative to insulin delivered via a proprietary implantable device. For more information, visit MetaCure.com.
About Hobart Group
The Hobart Group develops and commercializes medical technologies which target top healthcare markets with significant unmet needs. Its growing portfolio of companies covers the areas of cardiology, diabetes, oncology, neurology and rehabilitation. Together, Hobart Group companies have over 200 scientists, engineers, regulatory and business experts across four continents, benefitting from clinical expertise and extensive regulatory and international market knowledge across Europe, the USA and Asia. For more information, visit www.Hobart-Group.com.