In 1921, a Canadian pharmacologist co-discovered a life saving medicine. Two years later, the inventors sold the patent for just $1

In 1921, a Canadian pharmacologist co-discovered a life saving medicine that changed the treatment of diabetes. Sir Frederick Banting worked with medical student Charles Best at the University of Toronto. Biochemist James Collip helped to purify the extract, while laboratory supervisor John Macleod helped in the research to develop insulin from pancreatic tissue. It was also tested as a treatment for diabetes.

In January 1922, 14-year-old Leonard Thompson became the first person successfully treated with the extract. In 1923, Banting, Best and Collip sold their patent rights to the University of Toronto for one dollar each. Banting wanted insulin to remain accessible rather than become controlled by individuals.