CeQur Closes $27 Million Series B Financing

Proceeds from this financing round will also be used to fund activities related to United States regulatory approval. In a study involving people with type 2 diabetes completed last year, PaQ safely and effectively delivered patients’ insulin requirements with a high level of patient satisfaction and acceptance, and demonstrated ability to reduce known barriers to insulin therapy and a trend towards improving patients’ glycemic control.

“This financing is a reflection of the tremendous progress we’ve made with PaQ in the past two years, the strength of our clinical data , and a broad understanding of the value this transformative device will bring to people with type 2 diabetes,” said Eric Milledge, chairman of the board for CeQur. “We are excited to expand our manufacturing and commercial capabilities so that we can begin to make this technology broadly available to those in need.”

PaQ is a discreet, wearable device that provides three days of consistent, basal insulin delivery along with easy, on-demand bolus insulin. The small device comprises a disposable insulin infuser reservoir attached to a reusable insulin monitor. PaQ is simple to use, making it easy to train patients to start and stay on therapy.

About CeQur
CeQur is dedicated to developing and commercializing advanced 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 is headquartered in Horw, Switzerland, with operations in Nordborg, Denmark and Marlborough, Massachusetts. CeQur was established in January 2008.