Charles Best (medical scientist) the pancreatic extract and monitoring glucose levels, MacLeod assigned the biochemist James Collip to the team. In January 1922, while Collip was working on insulin purification, Best and Banting administered prematurely their pancreatic extracts to 14-year-old Leonard Thompson, who suffered a severe allergic reaction. Eventually, Collip succeeded in preparing insulin in a more pure, usable form. Banting, Best and Collip shared the patent for insulin, which they sold to the University of Toronto for one dollar. In 1923, the Nobel Prize Committee honoured Banting and J. J. R. Macleod with the Nobel Prize in Medicine for the discovery of insulin,
Frederick Banting Mackey, the sole survivor, Banting died from his injuries the next day. Banting was "en route" to England to conduct operational tests on the Franks flying suit developed by his colleague Wilbur Franks. Banting and his wife are buried at Mount Pleasant Cemetery in Toronto. In 1994 Banting was inducted into the Canadian Medical Hall of Fame. In 2004, he was nominated as one of the top 10 "Greatest Canadians" by viewers of the Canadian Broadcasting Corporation. When the final votes were counted, Banting finished fourth behind Tommy Douglas, Terry Fox and Pierre Trudeau. Banting's namesake, the Banting Research Foundation,