First, the very significant disclaimers: (i) the deal is merely a rumor at this point (as neither company has confirmed it — and SmartCells won’t, as it is privately-held); (ii) apparently the idea works in a tube, but hasn’t been shown to work “in-vivo” — in any living thing; (iii) the polymer conjugate nanostructural elements (represented by the orange wavy lines, at right — click it to enlarge) is derived from a toxic substance, in its native state — toxic to humans, that is (though it has been modified, with the aim of reducing its natural toxicity, in the blood); and finally, even if (iv) everything works perfectly, it will only reduce the needle-stick burden for diabetics to once a day, from twice or thrice a day.
[Image at right is public domain -- created entirely here. Take -- and use -- freely.]
Even so, it is an exciting concept, as reported by Jonathan D. Rockoff for the Wall Street Journal, tonight: the insulin is bound up in nano-structural bundles. These nano-structure-bundles are designed to swell in the presence of a significant level of glucose, and then (the orange) cross-bonds break, releasing just enough insulin molecules from their bundles to lower glucose levels. Variable release with a single daily dosing. That is the goal.
Is it worth $500 million today? I don’t know. SmartCells has an issued patent, and clearly, if the approach works, that patent will be vastly valuable — but there is no clincial trial program. That is still years away. Still, half-a-billion dollars may be a fair price. We’ll see — if it even is a deal, at this point.
