▁James ▁D . ▁Hav ens . ▁In ▁ 1 9 2 3 , ▁The ▁Nobel ▁Committee ▁cred ited ▁the ▁practical ▁extra ction ▁of ▁ins ul in ▁to ▁the ▁Toronto ▁team ▁and ▁awarded ▁the ▁Nobel ▁Prize ▁in ▁Phys i ology ▁or ▁Medicine ▁to ▁Frederick ▁B ant ing ▁( who ▁shared ▁his ▁prize ▁with ▁Charles ▁Best ) ▁and ▁J . J . R . ▁Mac le od ▁( who ▁shared ▁his ▁prize ▁with ▁James ▁Col lip ). ▁The ▁Ins ul in ▁Committee ▁of ▁the ▁Board ▁of ▁Govern ors ▁of ▁the ▁University ▁of ▁Toronto ▁was ▁created ▁in ▁the ▁same ▁year ▁to ▁admin ister ▁the ▁pat ents ▁( as ▁previously ▁agreed ) ▁and ▁undert ake ▁lic ens ing ▁arrang ements ▁for ▁the ▁manufact ure ▁of ▁ins ul in ▁world wide . ▁The ▁original ▁committee ▁consisted ▁of ▁John ▁G . ▁Fitz G er ald ▁of ▁Con n aught , ▁three ▁University ▁Govern ors , ▁and ▁the ▁four ▁co - dis cover ers . ▁The ▁authors ▁registered ▁the ▁University ▁of ▁Toronto ' s ▁commit ment ▁as ▁a ▁public ▁institution ▁" to ▁ensure ▁that , ▁at ▁the ▁earliest ▁possible ▁date , ▁ade qu ate ▁supplies ▁of ▁pot ent ▁and ▁non - to xic ▁prepar ations ▁of ▁Ins ul in ▁will ▁be ▁constantly ▁and ▁readily ▁available ▁at ▁reasonable ▁prices ▁all ▁over ▁the ▁world ." ▁ ▁Im pro ving ▁production ▁and ▁afford ability ▁▁ ▁By ▁the ▁summer ▁of ▁ 1 9 2 2 , ▁a ▁number ▁of ▁key ▁adv ances ▁were ▁made ▁at ▁Con n aught ▁to ▁significantly ▁increase ▁ins ul in