Insulet Corporation Wins 2006 New England Innovation Award from SBANE

May 16, 2006; 05:58 AM

BEDFORD, Mass. - Insulet Corporation, developer and manufacturer of the OmniPod Insulin Management System, announced today that it has received a 2006 New England Innovation Award from the Smaller Business Association of New England (SBANE), amid a record field of 172 nominees. The OmniPod System is an innovative new product for the treatment of diabetes that brings together safe, reliable, continuous subcutaneous insulin infusion and blood glucose monitoring in an easy-to-use, two-part system.

Accepting the award, Duane DeSisto, Insulet President and CEO, said, "I am thrilled to accept this award on behalf of everyone at Insulet Corporation. With the OmniPod System, we are fulfilling our mission and promise to improve the lives of people with diabetes."

SBANE President Bob Baker, said he had the opportunity to visit the Insulet facility and talk to people with diabetes as they learned about the functionality and benefits of the device. "It was amazing to see their enthusiasm and anticipation about the value of the OmniPod System and impact it will have on the quality of their lives," he said.

Forty-two independent judges, representing many of New England's leading companies, selected 15 finalists and six winners.

The OmniPod Insulin Management System consists of two parts: the handheld, wireless Personal Diabetes Manager (PDM), which programs the OmniPod with insulin delivery instructions and monitors its operation, and the compact, lightweight OmniPod, which is worn discreetly beneath clothing and delivers insulin based on instructions from the PDM. The PDM contains a fully integrated FreeStyle(R) blood glucose meter and is very similar in materials, construction and appearance to a personal digital assistant. Insulet received FDA clearance for the OmniPod System in January 2005 and manufactures the device from its Bedford, Massachusetts plant.

Through its New England Innovation Awards Program, SBANE recognizes companies that are not merely successful, but whose success is due to innovation and thought leadership. Since 1986, more than 100 companies have been honored, representing the many different faces of innovation. SBANE is a nonprofit organization established in 1938 to promote and protect small businesses. Its 1,000 member companies in six states range from sole-proprietorship service businesses and growing high technology firms to 200-employee manufacturing plants. For more information, visit http://www.sbane.org/.

About Insulet Corporation

Insulet Corporation, located in Bedford, Massachusetts, is an innovative, privately held, diabetes management company dedicated to providing superior treatment options and lifelong health benefits to people with diabetes. Insulet Corporation employees have extensive experience in the diabetes and medical device industries. Founded in 2000, the company seeks to improve the lives of people with diabetes -- and to break down the barriers to Continuous Subcutaneous Insulin Infusion (CSII) therapy -- through innovative design and technology, and through feedback from people with diabetes, physicians, and diabetes educators. http://www.insulet.com/