Modular Medical, Inc. (NASDAQ: MODD)

Modular Medical, Inc. is a pre revenue medical device company engaged in the design, development, and commercialization of innovative insulin pumps for the diabetes market.

The company focuses on creating a 2 part patch pump system that aims to reduce cost and complexity while improving accessibility for patients requiring multiple daily insulin doses.

Modular Medical, Inc. intends to generate revenue primarily through the sale of its MODD1 insulin pump and its forthcoming Pivot tubeless pump, together with the sale of disposable cartridges that contain insulin and are replaced every few days.

The company plans to sell its products directly to patients and through healthcare providers, distributors, and payors in the United States and, after obtaining CE mark clearance, in European markets.

Modular Medical, Inc. positions itself as a low cost user friendly alternative to established insulin pump manufacturers such as Medtronic, Tandem Diabetes Care, and Insulet. The company’s MODD1 pump offers a reusable actuator with a simple 1 button interface, requires only 9 steps for setup and refill every 72 hours versus the industry average of 42 steps, and weighs less than competing patch pumps while holding a 3 milliliter insulin reservoir. These attributes are designed to address the cost, complexity, and cumbersome design barriers that limit adoption among the broader diabetes patient population.

Modular Medical, Inc. serves individuals with type 1 and type 2 diabetes who require multiple daily insulin doses, including those referred to as Almost Pumpers who are aware of pump benefits but have not adopted existing systems due to cost, complexity, or usability concerns. The company also targets healthcare providers such as endocrinologists, diabetes educators, and primary care physicians, as well as insurance payors and pharmacy benefit managers that influence reimbursement and prescribing decisions.