Frederick Banting upon the idea of obtaining insulin from the fetal pancreas. He removed the pancreases from fetal calves at a William Davies slaughterhouse and found the extracts to be just as potent as those extracted from the dog pancreases. By December 1921, he had also succeeded in extracting insulin from the adult pancreas. Pork and beef would remain the primary commercial sources of insulin until they were replaced by genetically-engineered bacteria in the late 20th century. In spring of 1922, Banting established a private practice in Toronto and began to treat diabetic patients. His first American patient was Elizabeth Hughes Gossett,
Frederick Banting daughter of U.S. Secretary of State Charles Evans Hughes. Banting and Macleod were jointly awarded the 1923 Nobel Prize in Physiology or Medicine. Banting split his half of the Prize money with Best, and Macleod split the other half of the Prize money with James Collip. Banting was appointed Senior Demonstrator in Medicine at the University of Toronto in 1922. The following year he was elected to the new Banting and Best Chair of Medical Research, endowed by the Legislature of the Province of Ontario. He also served as Honorary Consulting Physician to the Toronto General, the Hospital for Sick