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The FDA approved the world's first 'artificial pancreas' for people with Type 1 diabetes

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The Food and Drug Administration is making huge strides to help patients manage Type 1 diabetes.

The FDA on Wednesday approved the first cellphone-sized device that takes care of of checking a patient's blood sugar and delivers lifesaving insulin as needed.

It acts as an "artificial pancreas" system -- monitoring blood sugar levels in the bloodstream and then delivering necessary background (also known as basal) insulin doses. 

The device will also shut off when blood sugar levels drop too low.

"This first-of-its-kind technology can provide people with type 1 diabetes greater freedom to live their lives without having to consistently and manually monitor baseline glucose levels and administer insulin," said Dr. Jeffrey Shuren, director of the FDA's Center for Devices and Radiological Health.

There might not be a cure for diabetes just yet, but this device is definitely a huge leap forward.

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