Medical device company CeQur raises $115 million

The round is the largest fundraising to date for a privately held medtech company in Europe. Credit Suisse Entrepreneur Capital Ltd. and Endeavour Vision led the financing with significant participation from new investors, including Tandem Diabetes Care, Inc., Ypsomed Group, Federated Hermes Kaufmann Funds, Kingdon Capital, and GMS Capital, as well as existing investors, Schroder & Co. Bank SA, and VI Partners.

The company will use the funds to advance commercial plans for CeQur Simplicity, including a phased commercial launch strategy that includes a limited market release in 2021. CeQur Simplicity is a simple, three-day, wearable insulin device for discreet, convenient and injection-free bolus dosing. One Simplicity patch holds up to 200 units of rapid-acting insulin administered in two-unit increments and replaces, on average, nine mealtime injections over three days. Clinical research has shown that nearly 90% of patients using CeQur Simplicity reported following their insulin regimen better as compared to multiple daily injections MDI. The device is clinically proven and both FDA cleared and CE-marked.

CeQur is headquartered in Horw close to Lucerne. CFO of the company is Douglas Günthardt, the former CEO of Siegfried and board member of the Ricola Group.

“CeQur Simplicity offers a simple solution to a major barrier for many people who need mealtime insulin. This financing, which is transformative for CeQur, provides additional validation for the value of CeQur Simplicity as a simple, convenient and discreet bolus insulin-delivery device that is designed to address the burden of multiple daily injections for over 3 million Americans – and many more individuals around the world,” said Richard Mott, Chairman of the Board at CeQur.

(Press release / Stefan Kyora)
Photo: CeQur Simplicity