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Diabetes: CeQur closes $27B Series B round

Tue, 09/10/2013 - 12:05pm
Mass Device

CeQur SA is planning to scale up manufacturing of its PaQ insulin delivery device in Europe with a $27 million Series B round.

The Horw, Switzerland-based company said the round was led by a pair of new, private investors and was joined by all existing backers, including BMC Ventures A/S, Endeavour Vision SA, Schroder & Co. Bank AG and Venture Incubator AG.

The PaQ device won CE Mark approval in the European Union in November 2012 for Type II diabetes. It's designed to provide 3 days of consistent, basal insulin delivery and on-demand bolus insulin via a disposable insulin reservoir and a reusable insulin monitor.

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