Pat Phelan's Limbo to seek deal with Abbott after legal action launched
The dispute relates to trademarks and alleged passing-off, according to court filings.
'Limbo has recently experienced massive international growth, and we have a deal agreed with Abbott/Lingo to amicably resolve and address any issues, that works for all parties,' Limbo chief executive and co-founder Rurik Bradbury told the Irish Independent.
'We'll announce more details of our plans and success in international expansion in the coming weeks,' he added.
He said he expects the legal action to be struck out pending a resolution to the spat.
Customers who sign up for the Limbo weight loss plan wear a continuous glucose monitor that's linked to an app on their phone. It's designed to assist customers with dietary changes that will help them to shed weight. It expects those using its system to lose between 3kg and 5kg in a month.
It charges €199 a month for the system, or the equivalent of €149 a month or €99 a month if consumers purchase a six-month and 12-month plan respectively.
Limbo started as VIV (Vitals in View) and later changed its name to Limbo in 2022. Headquartered in New York, Limbo has a research centre in Cork.
Last year, Abbott launched what it said was the first ever consumer-focused 'biowearable' Lingo product.
'Lingo tracks glucose spikes and dips in real time and provides personalised insights and customised coaching, helping people implement healthier habits and pursue better sleep, mood, focus, energy and fewer unpredictable cravings,' it said.
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Abbott added that its scientists had spent more than two decades researching continuous glucose monitors.
A spokesman for Abbott did not respond to requests for comment regarding the litigation against Mr Phelan's firms.
Co-founded by Mr Phelan, Limbo's other co-founder is Tony Martin, a physiologist and coach.
In 2022, the company raised an initial €6m in funding in a round led by Hoxton Ventures. The fundraising was also backed by US ex-basketball star Shaquille O'Neal, Irish rugby player Jamie Heaslip and former Apple senior executive Rory Sexton.
This year, the company has embarked on a $12m fundraising round and anticipates having $80m in annual sales by 2027.
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