CeQur Announces $100 Million Series C Financing

The financing will support further clinical and regulatory activities, manufacturing scale-up and commercial operations for the 2016 first commercial launch of PaQ, the Company’s fully optimized second-generation three-day insulin infusion device. 

Woodford Investment Management LLP and Arthurian Life Sciences led this private financing round. Existing investors including Endeavour Vision, Schroder & Co. Banque SA, and VI Partners also participated in the round.  

“We are very excited to work with such experienced investors who share our views about the significant opportunity PaQ brings to transform the lives of millions of people with type 2 diabetes,” said Doug Lawrence, CEO of CeQur. “Today when people with type 2 diabetes progress to insulin they need to inject, and current alternatives have cost and complexity limitations. CeQur’s second-generation PaQ will provide a superior alternative to injection therapy and allow us to build a high-growth business in the emerging category of simple and cost-effective insulin infusion to benefit patients, physicians and payors.” 

CeQur has developed PaQ, a simple, three-day, patch-like insulin infusion device. The discreet device will offer an alternative to insulin injections for people with type 2 diabetes, of which there are more than 11 million total in the United States and Europe. The potential worldwide market for simple insulin devices is estimated to be worth approximately $6 billion.  

CeQur has manufactured more than 12,000 PaQ devices to date and health-economic studies demonstrate that PaQ is a cost-effective alternative to insulin injection therapy for people with type 2 diabetes.  The Company has optimized PaQ for high-volume, low-cost manufacturing and the second-generation device is now being prepared for commercialization.  

About CeQur 
CeQur is developing and commercializing advanced yet simple-to-use insulin delivery devices that make it easier for people living with type 2 diabetes to adhere to therapy and stay in control of their disease. The Company’s fully optimized device, PaQ, is a three-day, wearable device that provides freedom from multiple daily insulin injections. The Company is headquartered in Lucerne, Switzerland, with operations in Marlborough, Massachusetts and Nordborg, Denmark. 

CeQur was established in January 2008.  The company is chaired by 34-year J&J veteran Eric Milledge and led by a team of highly experienced executives with backgrounds from relevant companies including Becton Dickinson & Company, J&J, Novo Nordisk, Abbott, Roche, and Smith & Nephew.

(Press Release)