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                                                                   EXHIBIT 10.10

                               ANIMAS CORPORATION
                        2004 EMPLOYEE STOCK PURCHASE PLAN

I.       PURPOSE OF THE PLAN

                  This 2004 Employee Stock Purchase Plan is intended to promote
the interests of Animas Corporation ("the Company") by providing eligible
employees with the opportunity to acquire a proprietary interest in the Company
through participation in a payroll-deduction based employee stock purchase plan
intended to meet the requirements of section 423 of the Code.

                  Capitalized terms herein shall have the meanings assigned to
such terms in ARTICLE XII.

II.      ADMINISTRATION OF THE PLAN

                  The Plan Administrator shall have full authority to interpret
and construe any provision of the Plan and to adopt such rules and regulations
for administering the Plan as it may deem necessary or appropriate in order to
implement the Plan or to comply with the requirements of section 423 of the
Code. Decisions of the Plan Administrator shall be final and binding on all
parties having an interest in the Plan.

III.     STOCK SUBJECT TO PLAN

         A.       The stock purchasable under the Plan shall be shares of
authorized but unissued or reacquired Common Stock, including shares of Common
Stock purchased on the open market. The maximum number of shares of Common Stock
which may be issued over the term of the Plan shall not exceed 500,000 shares.

         B.       Should any change be made to the Common Stock by reason of any
stock split, stock dividend, recapitalization, combination of shares, exchange
of shares or other change affecting the outstanding Common Stock as a class
without the Company's receipt of consideration, appropriate adjustments shall be
made to (i) the maximum number and class of securities issuable under the Plan,
(ii) the maximum number and class of securities purchasable per Participant on
any one Purchase Date and (iii) the number and class of securities and the price
per share in effect under each outstanding purchase right in order to prevent
the dilution or enlargement of benefits thereunder.

IV.      PURCHASE/HOLDING PERIODS

         A.       Shares of Common Stock shall be offered for purchase under the
Plan through a series of successive purchase periods until such time as (i) the
maximum number of shares of Common Stock available for issuance under the Plan
shall have been purchased or (ii) the Plan shall have been sooner terminated.

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         B.       Except as otherwise provided in Section VII-G or as otherwise
provided by the Plan Administrator, each purchase period shall have a duration
of six (6) months. The start date and end date for each purchase period shall be
established by the Plan Administrator from time to time.

V.       ELIGIBILITY

         A.       Each individual who (i) is an Eligible Employee on the start
date of any purchase period and (ii) has completed thirty (30) days of service
with the Company or any Corporate Affiliate prior to such start date shall be
eligible to participate in the Plan for that purchase period on such start date.

         B.       To participate in the Plan for a particular purchase period,
the Eligible Employee must complete the enrollment forms prescribed by the Plan
Administrator (including a stock purchase agreement and a payroll deduction
authorization form) and file such forms with the Plan Administrator (or its
designate) on or before the 30th day preceding the start date of the purchase
period.

VI.      PAYROLL DEDUCTIONS

         A.       The payroll deduction authorized by the Participant for
purposes of acquiring shares of Common Stock under the Plan may be any multiple
of one percent (1%) of the Base Salary paid to the Participant during each
purchase period, up to a maximum of ten percent (10%). The deduction rate so
authorized shall continue in effect for the entire purchase period. However, the
Participant may, at any time during the purchase period, reduce his or her rate
of payroll deduction to become effective as soon as possible after filing the
appropriate form with the Plan Administrator. The Participant may not, however,
effect more than one such reduction per purchase period.

         B.       Payroll deductions shall begin on the first pay day following
the start date of the purchase period and shall (unless sooner terminated by the
Participant) continue through the pay day ending with or immediately prior to
the last day of the purchase period. The amounts so collected shall be credited
to the Participant's book account under the Plan, but no interest shall be paid
on the balance from time to time outstanding in such account. The amounts
collected from the Participant shall not be held in any segregated account or
trust fund and may be commingled with the general assets of the Company and used
for general corporate purposes.

         C.       Payroll deductions shall automatically cease upon the
termination of the Participant's purchase right in accordance with the
provisions of the Plan.

VII.     PURCHASE RIGHTS

         A.       Grant of Purchase Right. A Participant shall be granted a
separate purchase right on the start date of each purchase period in which he or
she participates. The purchase right shall

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provide the Participant with the right to purchase shares of Common Stock on the
Purchase Date upon the terms set forth below. The Participant shall execute a
stock purchase agreement embodying such terms and such other provisions (not
inconsistent with the Plan) as the Plan Administrator may deem advisable.

                  Under no circumstances shall purchase rights be granted under
the Plan to any Eligible Employee if such individual would, immediately after
the grant, own (within the meaning of section 424(d) of the Code or hold
outstanding options or other rights to purchase, stock possessing five percent
(5%) or more of the total combined voting power or value of all classes of stock
of the Company or any Corporate Affiliate.

         B.       Exercise of the Purchase Right. Each purchase right shall be
automatically exercised on the Purchase Date, and shares of Common Stock shall
accordingly be purchased on behalf of each Participant (other than any
Participant whose payroll deductions have previously been refunded in accordance
with the Termination of Purchase Right provisions below) on such date. The
purchase shall be effected by applying the Participant's payroll deductions for
the purchase period ending on such Purchase Date (together with any carryover
deductions from the preceding purchase period) to the purchase of shares of
Common Stock (subject to the limitation on the maximum number of shares
purchasable per Participant on any one Purchase Date) at the purchase price in
effect for that purchase period.

         C.       Purchase Price. The purchase price per share at which Common
Stock will be purchased on the Participant's behalf on each Purchase Date shall
be equal to eighty-five percent (85%) of the lower of (i) the Fair Market Value
per share of Common Stock on the start date of the purchase period or (ii) the
Fair Market Value per share of Common Stock on that Purchase Date.

         D.       Number of Purchasable Shares. The number of shares of Common
Stock purchasable by a Participant on each Purchase Date shall be the number of
shares obtained by dividing the amount collected from the Participant through
payroll deductions during the purchase period ending with that Purchase Date
(together with any carryover deductions from the preceding purchase period) by
the purchase price in effect for that Purchase Date. In no event shall
fractional shares be purchased under the Plan.

         E.       Excess Payroll Deductions. Any payroll deductions not applied
to the purchase of Common Stock by reason of the limitation on the maximum
number of shares purchasable by the Participant on the Purchase Date shall be
promptly refunded.

         F.       Termination of Purchase Right. The following provisions shall
govern the termination of outstanding purchase rights:

                  1.       A Participant may, at any time prior to the last day
of the purchase period, terminate his or her outstanding purchase right by
filing the appropriate form with the Plan Administrator (or its designate), and
no further payroll deductions shall be collected from the

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Participant with respect to the terminated purchase right. Any payroll
deductions collected during the purchase period in which such termination occurs
shall, at the Participant's election, be immediately refunded or held for the
purchase of shares on the next Purchase Date. If no such election is made at the
time such purchase right is terminated, then the payroll deductions collected
with respect to the terminated right shall be refunded as soon as possible.

                  2.       The termination of such purchase right shall be
irrevocable, and the Participant may not subsequently rejoin the purchase period
for which the terminated purchase right was granted. In order to resume
participation in any subsequent purchase period, such individual must re-enroll
in the Plan (by making a timely filing of the prescribed enrollment forms) on or
before the start date of the new purchase period.

                  3.       Should the Participant cease to remain an Eligible
Employee for any reason (including death, disability or change in status) while
his or her purchase right remains outstanding, then that purchase right shall
immediately terminate, and all of the Participant's payroll deductions for the
purchase period in which the purchase right so terminates shall be immediately
refunded. However, should the Participant cease to remain in active service by
reason of an approved unpaid leave of absence, then the Participant shall have
the election, exercisable up until the last business day of the purchase period
in which such leave commences, to (a) withdraw all the funds in the
Participant's payroll account at the time of the commencement of such leave or
(b) have such funds held for the purchase of shares at the end of such purchase
period. In no event, however, shall any further payroll deductions be added to
the Participant's account during such leave. Upon the Participant's return to
active service, his or her payroll deductions under the Plan shall automatically
resume at the rate in effect at the time the leave began, provided the
Participant returns to service prior to the expiration date of the purchase
period in which such leave began.

         G.       Corporate Transaction. Each outstanding purchase right shall
automatically be exercised immediately prior to the effective date of any
Corporate Transaction by applying the payroll deductions of each Participant for
the purchase period in which such Corporate Transaction occurs to the purchase
of shares of Common Stock at a purchase price per share equal to eighty-five
percent (85%) of the lower of (i) the Fair Market Value per share of Common
Stock on the start date of the purchase period in which such Corporate
Transaction occurs or (ii) the Fair Market Value per share of Common Stock
immediately prior to the effective date of such Corporate Transaction. However,
the applicable share limitation on the number of shares of Common Stock
purchasable per Participant shall continue to apply to any such purchase.

                  The Company shall use its best efforts to provide at least ten
(10) days prior written notice of the occurrence of any Corporate Transaction,
and Participants shall, following the receipt of such notice, have the right to
terminate their outstanding purchase rights prior to the effective date of the
Corporate Transaction.

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         H.       Proration of Purchase Rights. Should the total number of
shares of Common Stock which are to be purchased pursuant to outstanding
purchase rights on any particular date exceed the number of shares then
available for issuance under the Plan, the Plan Administrator shall make a
pro-rata allocation of the available shares on a uniform and nondiscriminatory
basis, and the payroll deductions of each Participant, to the extent in excess
of the aggregate purchase price payable for the Common Stock pro-rated to such
individual, shall be refunded.

         I.       Assignability. During the Participant's lifetime, the purchase
right shall be exercisable only by the Participant and shall not be assignable
or transferable by the Participant (other than by will or the laws of descent).

         J.       Stockholder Rights. A Participant shall have no stockholder
rights with respect to the shares subject to his or her outstanding purchase
right until the shares are purchased on the Participant's behalf in accordance
with the provisions of the Plan and the Participant has become a holder of
record of the purchased shares.

VIII.    ACCRUAL LIMITATIONS

         A.       No participant shall be entitled to accrue rights to acquire
Common Stock pursuant to any purchase right outstanding under this Plan if and
to the extent such accrual, when aggregated with (i) rights to purchase Common
Stock accrued under any other purchase right granted under this Plan and (ii)
similar rights accrued under other employee stock purchase plans (within the
meaning of section 423 of the Code) of the Company or any Corporate Affiliate,
would otherwise permit such Participant to purchase more than $25,000 worth of
stock of the Company or any Corporate Affiliate (determined on the basis of the
Fair Market Value per share of Common Stock on the start date of the purchase
period) for each calendar year such rights are at any time outstanding.

         B.       For purposes of applying such accrual limitations, the
following provisions shall be in effect:

                  1.       The right to acquire Common Stock under each
outstanding purchase right shall accrue on the Purchase Date in effect for the
purchase period for which such right is granted.

                  2.       No right to acquire Common Stock under any
outstanding purchase right shall accrue to the extent the Participant has
already accrued in the same calendar year the right to acquire Common Stock
under one (1) or more other purchase rights at a rate equal to $25,000 worth of
Common Stock (determined on the basis of the Fair Market Value per share of
Common Stock on the start date of the purchase period) for each calendar year
such rights were at any time outstanding.

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         C.       If by reason of such accrual limitations, any purchase right
of a Participant does not accrue for a particular purchase period, then the
payroll deductions which the Participant made during that purchase period with
respect to such purchase right shall be promptly refunded.

         D.       In the event there is any conflict between the provisions of
this Article and one or more provisions of the Plan or any instrument issued
thereunder, the provisions of this Article shall be controlling.

IX.      EFFECTIVE DATE AND TERM OF THE PLAN

         A.       The Plan was adopted by the Board on February 10, 2004 and
shall become effective on [the Offering Closing Date], provided no purchase
rights granted under the Plan shall be exercised, and no shares of Common Stock
shall be issued hereunder, until (i) the Plan shall have been approved by the
shareowners of the Company and (ii) the Company shall have complied with all
applicable requirements of the 1933 Act (including the registration of the
shares of Common Stock issuable under the Plan on a Form S-8 registration
statement filed with the Securities and Exchange Commission), all applicable
listing requirements of any stock exchange on which the Common Stock is listed
for trading and all other applicable requirements established by law or
regulation. In the event such stockholder approval is not obtained, or such
compliance is not effected, within twelve (12) months after the date on which
the Plan is adopted by the Board, the Plan shall terminate and have no further
force or effect and all sums collected from Participants during the initial
purchase period hereunder shall be refunded.

         B.       Unless sooner terminated by the Board, the Plan shall
terminate upon the earliest of (i) January 1, 2014, (ii) the date on which all
shares available for issuance under the Plan have been sold pursuant to purchase
rights exercised under the Plan or (iii) the date on which all purchase rights
are exercised in connection with a Corporate Transaction. No further purchase
rights shall be granted or exercised, and no further payroll deductions shall be
collected, under the Plan following its termination.

X.       AMENDMENT OF THE PLAN

                  The Board may alter, amend, suspend or discontinue the Plan at
any time. However, the Board may not, without the approval of the Company's
shareowners, (i) increase the number of shares of Common Stock issuable under
the Plan or the maximum number of shares purchasable per Participant on any one
Purchase Date, except for permissible adjustments in the event of certain
changes in the Company's capitalization, (ii) alter the purchase price formula
so as to reduce the purchase price payable for the shares of Common Stock
purchasable under the Plan, or (iii) materially increase the benefits accruing
to Participants under the Plan or materially modify the requirements for
eligibility to participate in the Plan. In the event that the Plan is terminated
prior to the last day of a purchase period, such purchase period shall be deemed
to have ended on the effective date of such termination and there shall be no
subsequent purchase periods thereafter.

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XI.      GENERAL PROVISIONS

         A.       All costs and expenses incurred in the administration of the
Plan shall be paid by the Company.

         B.       Nothing in the Plan shall confer upon the Participant any
right to continue in the employ of the Company or any Corporate Affiliate for
any period of specific duration or interfere with or otherwise restrict in any
way the rights of the Company (or any Corporate Affiliate employing such person)
or of the Participant, which rights are hereby expressly reserved by each, to
terminate such person's employment at any time for any reason, with or without
cause.

         C.       The provisions of the Plan shall be governed by the laws of
the Commonwealth of Pennsylvania, without resort to that Commonwealth's
conflict-of-laws rules.

XII.     DEFINITIONS

                  The following definitions shall be in effect under the Plan:

         A.       Base Salary shall mean the regular base salary paid to a
Participant by one or more Participating Companies during such individual's
period of participation in the Plan, plus any pre-tax contributions made by the
Participant to any cash-or-deferred arrangement that meets the requirements of
section 401(k) of the Code or any cafeteria benefit program that meets the
requirements of section 125 of the Code, now or hereafter established by the
Company or any Corporate Affiliate, but excluding any and all contributions
(other than contributions subject to sections 401(k) and 125 of the Code) made
on the Participant's behalf by the Company or any Corporate Affiliate under any
employee benefit or welfare plan now or hereafter established.

         B.       Board shall mean the Company's Board of Directors.

         C.       Code shall mean the Internal Revenue Code of 1986, as amended.

         D.       Common Stock shall mean the Company's common stock.

         E.       Corporate Affiliate shall mean any parent or subsidiary of the
Company (as determined in accordance with Code Section 424, whether now existing
or subsequently established).

         F.       Corporate Transaction shall mean either of the following
stockholder-approved transactions to which the Company is a party:

                  1.       a merger or consolidation in which securities
possessing more than fifty percent (50%) of the total combined voting power of
the Corporation's outstanding securities are transferred to a person or persons
different from the persons holding those securities immediately prior to such
transaction, or

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                  2.       the sale, transfer or other disposition of all or
substantially all of the assets of the Company in complete liquidation or
dissolution of the Corporation.

         G.       Company shall mean Animas Corporation, a Delaware corporation,
and any corporate successor to all or substantially all of the assets or voting
stock of Animas Corporation, which shall, by appropriate action, adopt the Plan.

         H.       Effective Date shall mean [the Offering Closing Date]. Any
Corporate Affiliate which becomes a Participating Company after such Effective
Date shall designate a subsequent Effective Date with respect to its
employee-Participants.

         I.       Eligible Employee shall mean any person who is engaged, on a
regularly-scheduled basis of: (i) more than twenty (20) but less than thirty
(30) hours per week for more than five (5) months per calendar year or (ii)
thirty (30) or more hours per week, in the rendition of personal services to any
Participating Company as an employee for earnings considered wages under section
3401(a) of the Code.

         J.       Fair Market Value per share of Common Stock on any relevant
date shall be the closing selling price per share of Common Stock on the date in
question on the Stock Exchange determined by the Plan Administrator to be the
primary market for the Common Stock, as such price is officially quoted in the
composite tape of transactions on such exchange. If there is no closing selling
price for the Common Stock on the date in question, then the Fair Market Value
shall be the closing selling price on the last preceding date for which such
quotation exists.

         K.       1933 Act shall mean the Securities Act of 1933, as amended.

         L.       Participant shall mean any Eligible Employee of a
Participating Company who is actively participating in the Plan.

         M.       Participating Company shall mean the Company and such other
Corporate Affiliate or Affiliates as may be authorized from time to time by the
Board to extend the benefits of the Plan to their Eligible Employees.

         N.       Plan shall mean the Company's 2004 Employee Stock Purchase
Plan, as set forth in this document.

         O.       Plan Administrator shall mean a committee appointed by the
Board to administer the Plan. The Committee will have the number of members (but
not less than two) that the Board determines from time to time, and shall be
comprised of "Non-Employee Directors" within the meaning of Rule 16b-3
promulgated under Section 16 of the Securities and Exchange Act of 1934, as
amended.

         P.       Purchase Date shall mean the last business day of each
purchase period.

         Q.       Stock Exchange shall mean NASDAQ.

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         R.       Subsidiary shall mean a subsidiary of the Company within the
meaning of Section 424(f) of the Code and the regulations promulgated
thereunder.

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