MONTREUX, Switzerland, Jan. 5 /PRNewswire/ -- CeQur SA, a company focused on the development and commercialization of insulin delivery systems to improve the management of type 2 diabetes, announced that at the end of December 2009 the company completed its Series A investment with a final closing of 10.3 million Swiss francs, bringing the total for the Series A to 31.7 million Swiss francs ($29.6 million U.S.). Investors in the Series A include BMC Ventures A/S, Endeavour Vision SA, Schroder & Co Bank AG, and Venture Incubator AG.
Proceeds from the financing will enable CeQur to obtain CE mark approval for the CeQur Insulin Infuser, introduce the product to market in Europe and continue with the U.S. regulatory submission.
“In the U.S. and EU alone more than 8 million people with type 2 diabetes use insulin daily to obtain glycemic control,” said Eric Milledge, chairman of the board, CeQur. “Many of these individuals experience challenges as a result of having to administer multiple, daily insulin injections. The CeQur Insulin Infuser is a simple alternative that will offer people with type 2 diabetes freedom from these challenges and help them achieve their glycemic goals.”
CeQur SA is dedicated to developing and commercializing advanced insulin delivery systems that make it easier for people living with type 2 diabetes to comply with therapy and stay in control of their disease. The company is headquartered in Montreux, Switzerland, with operations in Nordborg, Denmark and Marlborough, Massachusetts.
CONTACT: Michele Parisi, +1-925-429-1850, mparisi@biocommnetwork.com, for
CeQur SA
Web site: http://www.cequrcorp.com//
