Lucerne – The medical technology company CeQur has received 115 million dollars from investors. Credit Suisse Entrepreneur Capital and Endeavor Vision led this, the highest financing round to date for a European medtech.
CeQur has received $ 115 million in fresh capital in an oversubscribed C5 financing round. The Lucerne-based medtech company wants to push ahead with the market entry for its CeQur Simplicity portable insulin device, which is planned for this year, as well as the expansion of large-scale production. The Simplicity patch holds up to 200 units of fast-acting insulin, which automatically delivers its doses for three days with all three main meals. CeQur Simplicity has both FDA approval and the European CE mark.
This insulin device is primarily aimed at people who cannot achieve their blood sugar targets with independent insulin injections. The potential market for simple insulin delivery devices is about $ 7.5 billion in the US and about twice that worldwide, according to a company release.
The largest financing round to date for a European medtech company was led by Credit Suisse Entrepreneur Capital (Zurich) and Endeavor Vision (Geneva, Minneapolis). In addition to the existing investors Schroder & amp; Co. Bank (Zurich) and VI Partners (Altendorf SZ) would also have new investors “to a significant extent”. These include Tandem Diabetes Care (San Diego, USA), Ypsomed Group (Burgdorf BE), Federated Hermes Kaufmann Funds (USA), Kingdon Capital (USA) and GMS Capital (Washington DC, USA).
“We are grateful for the support of this group of world-class investors,” said Bradley Paddock, President and CEO of CeQur. “We look forward to advancing our commercial and production engineering plans to prepare for broad market rollout.”
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