CeQur raises $115m Series C5 funding to scale-up business
CeQur, a medical device company committed to simplifying the lives of people with diabetes by revolutionising insulin-delivery solutions, today announced the close of an oversubscribed $115m equity financing.
The company will use the funds to advance commercial plans for CeQur Simplicity, including market development activities, a phased commercial launch strategy that includes a limited market release in 2021, and the scale-up of high-volume manufacturing. CeQur Simplicity is both FDA cleared and CE-marked.
Credit Suisse Entrepreneur Capital Ltd. and Endeavour Vision led the financing with significant participation from new investors, including Tandem Diabetes Care, Inc. (NASDAQ: TNDM), Ypsomed Group (SWX: YPSN), Federated Hermes Kaufmann Funds, Kingdon Capital, and GMS Capital, as well as existing investors, Schroder & Co. Bank SA, and VI Partners.
“We are grateful for the support from this group of world-class investors, who share our vision to transform the lives of people with diabetes who require daily insulin therapy. In the pilot launch of CeQur Simplicity, we’ve been very encouraged by the feedback from healthcare professionals, payers, and people with diabetes, which validates that this novel device offers meaningful benefits to a large segment of people who are insulin dependent,” said Bradley Paddock, President and CEO at CeQur. “We look forward to advancing our commercial and manufacturing plans in preparation for our broadscale launch.”