Diabetes: CeQur closes $27B Series B round
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.