CeQur Simplicity, headquartered in Switzerland, has invented a simple low profile insulin-delivery system. The company was established in 2008 as a spin-out from Danfoss A/S, a large global Danish industrial products group. With the insulin patch, the company is committed to making it easy for people with diabetes to adhere to an insulin regimen that keeps blood sugars well controlled. Founder James Peterson helped develop the unique technology with the goal of reducing the burden of daily insulin injections.
Research conducted from individuals who manage their diabetes with multiple daily injections (MDI) and the medical professionals who treat them, demonstrates that many patients are not achieving their glucose targets in part due to lifestyle restrictions, social challenges, and fear of the social stigma associated with insulin injections. CeQur strives to create a simple solution to address this major barrier that many people experience.
The simple device is a convenient tool that delivers two units of rapid-acting insulin with just one click. Using a tiny flexible cannula, the patch delivers fast-acting insulin in a pain-free manner. It is comfortable to wear and stays in place no matter the user’s activity levels. More importantly, the device has been shown to reduce the risk of long-term health complications for patients suffering with diabetes. CeQur Simplicity is both FDA-cleared and CE-marked, meaning it is safe and effective to use.
The company raised $115 million in series C5 financing to support the commercialisation and scale-up of automated manufacturing. Led by Credit Suisse and Endeavour Vision, this was the largest fundraising to date for a privately held medtech company in Europe. The company aims to use the funds to advance its commercial plans, including market development activities, a phased commercial launch strategy that includes a limited market release, and the scale-up of high-volume manufacturing.
Bradley Paddock, CEO of CeQur, states that the company’s goal is to expand the organisation even further, “CeQur Simplicity is uniquely positioned with no equivalent, and an addressable market size of USD 7 billion in the US, which is incredibly rare for a single medtech product – so, looking towards 2023, it is an exciting time to have the opportunity to share this device widely and impact thousands of patients.”
Sources: Cequr Simplicity, Endeavour Vision
