Horw, Switzerland-based CeQur plans to use the funds to drive growth and accelerate commercial expansion efforts. 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. It wants to bring its convenient, discreet and injection-free dosing technology to more people with diabetes. 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 said it continues to increase and improve pharmacy access to its device. It has struck agreements with numerous Medicare Part-D and State Medicaid programs. Additionally, with manufacturing, the company’s 40,000-square-foot automated cleanroom facility completed all qualifications last year. It plans to manufacture commercial product in 2025.
More about the CeQur Simplicity system
Simplicity, a wearable, disposable bolus insulin delivery system, was developed as, essentially, a wearable insulin pen. CeQur began a pilot commercial launch for the FDA-cleared and CE-marked device in early 2021. In April 2021, the company raised $115 million to support that launch and scale up manufacturing.
(Paddock spoke to Drug Delivery Business News in 2022 about the benefits of Simplicity.)
Last year, the FDA granted 510(k) clearance for Simplicity for an extended wear duration. 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.
Each patch now replaces up to 12 mealtime injections, equaling more than 1,000 fewer injections annually.
