The financing secured will drive growth and accelerate commercial expansion efforts, support the scaling of commercial teams and outreach initiatives to bring CeQur Simplicity™, its 4-day wearable insulin delivery device, to more healthcare providers and patients managing diabetes.
HORW, Switzerland, Jan. 7, 2025 /PRNewswire-PRWeb/ -- CeQur®, a medical device company dedicated to simplifying insulin delivery for individuals on multiple daily injections, today announced the successful close of a $120 million financing round. This significant investment underscores the confidence in CeQur's mission to simplify the lives of people managing diabetes.
The funds will support the continued commercial expansion of CeQur Simplicity, the company's innovative 4-day wearable insulin delivery device. CeQur will continue to grow its Sales Force and expand its Clinical team to ensure that more people living with diabetes can benefit from convenient, discreet, and injection-free dosing.
"We are grateful for the support of our investors as we accelerate our mission to transform diabetes care," said Brad Paddock, President and CEO of CeQur. "This financing will enable us to reach more patients, expand our commercial footprint, and continue innovating solutions that simplify mealtime insulin management", said Mike Rubino, CFO of CeQur.
CeQur has seen growing adoption of its CeQur Simplicity patch, a discreet, easy-to-use bolus insulin delivery solution, with over 6,000 patients currently using the device.
CeQur continues to increase and improve pharmacy access. In addition to the more than two thirds of commercially insured patients on formulary, CeQur has reached agreements with numerous Medicare Part-D and State Medicaid programs. Overall, better than 80% of all claims are being covered as a pharmacy benefit. The average copay is less than $45/month.
Related to manufacturing, CeQur's 40,000 sq/ft automated cleanroom facility completed all of its qualifications in Q4 2024. The facility is scheduled to manufacture commercial product in 2025.
For more information about CeQur and its groundbreaking product, visit myceqursimplicity.com.
About CeQur Simplicity
CeQur Simplicity is a simple, 4-day wearable Insulin Delivery Device for discreet, convenient and injection-free bolus dosing. One CeQur Simplicity patch holds up to 200 units of rapid-acting insulin administered in two-unit increments and replaces, on average, twelve daily mealtime injections over four 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.(1) The Patch is clinically proven to improve glycemic control, with patients achieving significantly improved A1C and time-in-range (TIR) goals.(2,3)
About CeQur®
CeQur is commercializing advanced, simple-to-use insulin delivery devices that make it easier for people living with diabetes to adhere to therapy and stay in control of their disease. The Company's simple, wearable devices provide freedom from multiple daily insulin injections.
More information can be found at cequr.com.
References:
- Zraick V, Dreon D, Nalk R, Shearer D, Crawford S, Bradford J, Levy B. 2016. Patient User Experience Evaluation of Bolus Patch Insulin Delivery System. Poster presented at the American Diabetes Association's 76th Scientific Sessions. Abstract 995-P. New Orleans, LA, USA
- Bergenstal R, Peyrot M, Dreon D, Aroda V, Bailey T, Brazg R, Frias J, Johnson M, Klonoff D, Kruger D, Ramtoola S, Rosenstock J, Serusclat P, Weinstock R, Naik R, Shearer D, Zraick V, Levy B. 2019. Implementation of Basal–Bolus Therapy in Type 2 Diabetes: A Randomized Controlled Trial Comparing Bolus Insulin Delivery Using an Insulin Patch with an Insulin Pen. Diabetes Technology and Therapeutics 21 (5):1-13.
- Bergenstal R., et al Comparing Patch vs Pen Bolus Insulin Delivery in Type 2 Diabetes Using Continuous Glucose Monitoring Metrics and Profiles; Journal of Diabetes Science and Technology 1–7, 2021
Media Contact
Kim Holdsworth, Chief Marketing Officer, CeQur®, 1 (864) 754-0852, [email protected], https://myceqursimplicity.com
SOURCE CeQur®
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