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Dexcom

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DexCom, Inc.
Company typePublic
Founded1999; 25 years ago (1999)
HeadquartersSan Diego, California, U.S.
Key people
Kevin Sayer (chairman, president & CEO)
ProductsMedical devices
RevenueIncrease US$3.62 billion (2023)
Increase US$598 million (2023)
Increase US$542 million (2023)
Total assetsIncrease US$6.26 billion (2023)
Total equityDecrease US$2.07 billion (2023)
Number of employees
c. 9,600 (2023)
Websitedexcom.com
Footnotes / references
[1]

DexCom, Inc.[2] is a company that develops, manufactures, produces, and distributes continuous glucose monitoring (CGM) systems for diabetes management. It operates internationally with headquarters in San Diego, California, and has manufacturing facilities in Mesa, Arizona, Batu Kawan, Malaysia and Athenry, Ireland.

History

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Dexcom was founded in 1999 by Scott Glenn, John Burd, Lauren Otsuki, Ellen Preston and Bret Megargel.[3][4] In 2006, Dexcom received U.S. Food and Drug Administration (FDA) approval and launched the Dexcom STS Continuous Glucose Monitoring System, which is a three-day sensor that provides up to 288 glucose measurements for every 24 hours. Dexcom received approval of the second generation product, the Seven Continuous Glucose Monitoring System, in May 2007. This device improved on accuracy and extended use from three to seven days. In 2008, Dexcom announced two consumer development agreements with Insulet Corporation[5] and Animas Corporation[6] as well as a development agreement with Edwards Lifesciences for a continuous glucose monitor in the intensive care unit hospital environment.[7]

During February 2009, Dexcom received approval for the Seven Plus Continuous Glucose Monitor, its new continuous glucose monitoring system, from the FDA. This product received a CE mark in November 2009. In 2013, development work for integration with Insulet was discontinued. Dexcom entered a non-exclusive agreement with Tandem Diabetes Care, Inc. in 2015 to allow the integration of its forthcoming G5 and G6 continuous glucose monitoring systems into Tandem's insulin pumps.[8] The G5 was approved in 2016 by the FDA for use as a standalone device, while the G6 gained approval in 2018.[9]

Dexcom's first G-series CGM, the G4 Platinum, received a CE mark[10] and FDA approval in 2012[11] for adults ages 18 and over. This device improved hypoglycemic accuracy by 30%.[11] It also offered a longer range of transmission between the sensor and receiver, as well as a color LCD.[11] The G4 Platinum was approved by the FDA for use in patients ages 2–17 in February 2014.[12] Dexcom received FDA approval in January 2015 for the G4 Platinum with Share, which enabled the sharing of CGM data with up to five other people using the "Share" and "Follow" smartphone apps.[13]

The Dexcom G5 was approved in August 2015 by the FDA for use as a standalone device,[14] the G5 has Bluetooth integrated into its transmitter, enabling it to send data to a mobile device.[15] This allows for use of the device without the standalone receiver. The Dexcom G5 received a CE mark in September 2015.[16]

Dexcom is listed on the Nasdaq Global Select Market stock exchange under the ticker symbol DXCM. On April 20, 2020, Dexcom became a component of the Nasdaq-100, replacing American Airlines Group in the index.[17]

The Dexcom G7 was approved in December 2022 by the FDA for use as a standalone device and is the most accurate currently approved CGM in the U.S.[18]

In a 2024 interview, Jake Leach, Dexcom's COO, stated his belief that while noninvasive glucose monitoring is a "beautiful concept" current technology doesn't match the accuracy of existing invasive CGMs. He emphasizes that high CGM accuracy is crucial, even for non-insulin users, to avoid misdiagnosis of metabolic conditions. While Dexcom have explored new noninvasive approaches through their venture arm, nothing has yet met their standards for a viable product.[19]

In October 2024, Time Magazine named Dexcom Stelo's over-the-counter glucose monitor as one of the best inventions of the year.[20]

Partnerships

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  • Dexcom entered into a partnership in 2015 with Google Life Sciences (which subsequently became Verily) to develop the Dexcom G7 [21][22][23]
  • Dexcom entered a non-exclusive agreement with Tandem Diabetes Care, Inc. in 2015 to allow the integration of its new G5 and G6 continuous glucose monitoring systems into Tandem's insulin pumps.[24][25] Tandem Diabetes Care received FDA approval in December 2019 for Control-IQ, a closed-loop technology that uses Tandem's t:slim X2 insulin pump and the Dexcom G6 to "to automatically increase, decrease, or stop the delivery of insulin in response to the glucose levels of people with Type 1 diabetes."[26]
  • In June 2019, Dexcom announced a collaboration with Companion Medical to enable the exchange of CGM data from Dexcom with insulin data from InPen into both companies' software applications.[27]
  • Dexcom entered into a partnership with Livongo, a digital chronic care management company, in January 2020 to share CGM data from the Dexcom G6 with Livongo's platform. This integration allowed Livongo to incorporate the CGM data along with other patient data.[28]
  • In February 2020, Dexcom and Insulet Corporation signed a non-exclusive, global agreement to combine current and future Dexcom continuous glucose monitoring systems with Insulet's tubeless insulin delivery Pod into the Omnipod Horizon System for automated insulin delivery.[29] This allowed the ability to adjust insulin doses based on Insulet's algorithm or through their smartphone.[30]
  • The company also announced in March 2020 a partnership with Welldoc to integrate G6 CGM data with BlueStar, a digital platform for diabetes management.[31]

Venture capital arm

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In early 2021, Dexcom launched Dexcom Ventures, a venture capital arm focused on emerging continuous glucose monitoring technologies and devices measuring the levels of other types of substances and analytes. [32] In practice, Dexcom Ventures has also invested in cybersecurity platforms for the software used in medical devices. [33]

References

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  1. ^ "2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 8, 2024.
  2. ^ "DexCom Showcases Expanded CGM Portfolio at International ATTD Conference, Offering More Choice to People with Diabetes" (Press release). 26 April 2022.
  3. ^ "Dexcom adding 500 jobs in Mesa". www.bizjournals.com. Retrieved September 19, 2019.
  4. ^ "Freedom Meditech raises $7 million". San Diego Union-Tribune. August 7, 2013. Retrieved September 19, 2019.
  5. ^ "Insulet Corporation and DexCom Announce Development Agreement (NASDAQ:DXCM)". Investor.shareholder.com. January 7, 2008. Archived from the original on December 8, 2015. Retrieved December 3, 2015.
  6. ^ "DexCom™ Announces Joint Development Agreement with Animas Corporation". Investor.shareholder.com. June 10, 2008. Archived from the original on March 18, 2016. Retrieved April 4, 2016.
  7. ^ "Edwards Lifesciences and DexCom to Develop Continuous Glucose Monitoring Products for Hospital Market (NASDAQ:DXCM)". Investor.shareholder.com. November 10, 2008. Archived from the original on December 8, 2015. Retrieved December 3, 2015.
  8. ^ "Tandem Diabetes Care Announces Development Agreement with Dexcom for Integration of Future Generation CGM Systems". PR Newswire. July 30, 2015. Retrieved December 3, 2015.
  9. ^ "FDA authorizes first fully interoperable continuous glucose monitoring system, streamlines review pathway for similar devices" (Press release). FDA. March 27, 2018. Retrieved March 27, 2018.
  10. ^ "FDA Nod for Dexcom G4 Platinum - Analyst Blog". Nasdaq. Zacks. 11 October 2012.
  11. ^ a b c "DexCom Stock History". 13 June 2018.
  12. ^ "FDA Approves Pediatric Use for Dexcom's G4 Platinum CGM". 19 February 2014.
  13. ^ "Dexcom G4 Platinum With SHARE Gets FDA Approval". DiabetesInControl. January 29, 2015. Retrieved March 2, 2023.
  14. ^ "Dexcom wins FDA nod for G5 CGM". 25 August 2015.
  15. ^ "FDA approves Dexcom for Bluetooth-enabled CGM G5". 25 August 2015.
  16. ^ "Dexcom gets CE Mark for G5 continuous glucose monitor". 14 September 2015.
  17. ^ "Dexcom, inc. to join the NASDAQ-100 Index beginning April 20, 2020" (Press release). Nasdaq. April 10, 2020.
  18. ^ "Dexcom G7 Receives FDA Clearance: The Most Accurate Continuous Glucose Monitoring System Cleared in the U.S." 8 December 2022.
  19. ^ Webb, Marion (January 24, 2024). "Dexcom COO On Stelo CGM Plans, Apple Watch Developments, And Why Non-Invasive Glucose Monitoring Still Leaves Much To Desire". Retrieved 23 September 2024.
  20. ^ Klein, Jessica (2024-10-30). "Dexcom Stelo: the 200 Best Inventions of 2024". TIME. Retrieved 2024-11-02.
  21. ^ "Fierce Biotech". fiercebiotech.com. Retrieved 2015-08-11.
  22. ^ "Verily Life Sciences". verily.com. Retrieved 2017-02-15.
  23. ^ "Dexcom G7 CGM - Powerfully simple diabetes management". Dexcom. Retrieved 2023-06-28.
  24. ^ "FDA Approval of Tandem's t:slim with Integrated Dexcom G4 Platinum CGM Expected in 2015". 7 August 2015.
  25. ^ "FDA Approves New Insulin Pump-Continuous Sensor Combo".
  26. ^ "FDA approves new closed-loop insulin delivery system for people with Type 1 diabetes". 13 December 2019.
  27. ^ "DexCom and Companion Medical Collaboration to Support CGM". yahoo!finance. June 7, 2019. Retrieved March 2, 2023.
  28. ^ "JPM20: Livongo strikes deal with Dexcom to integrate continuous glucose monitoring data". 14 January 2020.
  29. ^ "Insulet Partners With Dexcom for Automated Insulin Delivery". Yahoo Finance. February 24, 2020.
  30. ^ "Insulet's Omnipod to integrate with Dexcom, Abbott CGMS for automated, smartphone-controlled dosing". 20 February 2020.
  31. ^ "Dexcom G6 integration enables insights from Welldoc BlueStar, Apple's rumored video workout app and more digital health news briefs". 12 March 2020.
  32. ^ Freeman, Mike (2021-02-13). "Dexcom unveils new corporate venture fund to invest in sensor, health monitoring startups". San Diego Union-Tribune. Retrieved 2024-04-15.
  33. ^ MedCrypt. "MedCrypt Extends Series B with Additional Investment from Dexcom Ventures". www.prnewswire.com. Retrieved 2024-04-15.
[edit]
  • Official website
  • Business data for DexCom, Inc.:
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