Disclosed is a conjugate comprising an insulin molecule conjugated to one or more ligands wherein at least one ligand is aminoethyltrimannose (AETM), and preferably wherein the insulin molecule is conjugated via the A1 amino acid residue, via the B1 amino acid residue, or via the epsilon-amino group of LysB29. Also disclosed is a sustained release formulation comprising an insulin conjugate as defined above, and which may further comprise protamine and zinc, for use in treating hyperglycemia or diabetes.