CeQur raises $120M to support insulin delivery tech
Summary
It aims to scale commercial teams and outreach initiatives to bring Simplicity, its four-day wearable insulin delivery device, to more healthcare providers and patients managing diabetes.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.The company said it plans to continue growing its sales force and expand its clinical team. More than 6,000 patients currently use the patch-based bolus insulin delivery device, according to a news release.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 began a pilot commercial launch for the FDA-cleared and CE-marked device in early 2021. Clearance extended the wear time for the wearable mealtime insulin delivery patch from three to four days. It marks a significant advancement for what the company says is the longest wearable insulin delivery patch, which provides diabetes discretion, additional convenience and injection-free dosing.