Bigfoot Biomedical Raised $55m, Including Backing From Abbott

29 Mar 2018

Bigfoot Biomedical said it raised $55m in a Series B financing, including a new undisclosed investment from partner Abbott Laboratories, bringing the start-up's total funding to $90m. The diabetes firm said it plans to use the money to fund clinical trials and marketing of its insulin pump and pen.

Milpitas, California-based Bigfoot Biomedical Inc. had already raised $37m in a Series B financing round in December 2017. The firm has now closed the round after raising another $18m, including funds from Abbott Laboratories Inc. as a first-time investor, along with other new and existing investors.

"We are excited to welcome Abbott to our list of investors," Jeffrey Brewer, president and CEO of Bigfoot Biomedical said....