Insulin was discovered in 1921 by Sir Frederick G. Banting, Charles H. Best, and J.J.R. Macleod at the University of Toronto. The discovery was later followed by the purification of insulin by James B. Collip. Banting, a Canadian surgeon, and Best, a medical student, successfully isolated insulin from the pancreas of dogs and demonstrated its effect on lowering blood glucose levels. Their work was foundational in developing insulin as a life- saving treatment for diabetes. In 1923, Banting and Macleod were awarded the Nobel Prize in Medicine for their pioneering contributions to the discovery of insulin.