CeQur SA announced the closing of a $27 million dollar Series B financing.
The series B financing round was led by two new private investors with the participation of all current shareholders, and will support manufacturing scale up for the CeQur PaQ simple insulin delivery device, which received CE Mark approval in November 2012.
Proceeds from this series B financing round will also be used to fund activities related to United States regulatory approval.
In a study involving people with type 2 diabetes completed last year, PaQ safely and effectively delivered patients' insulin requirements with a high level of patient satisfaction and acceptance, and demonstrated ability to reduce known barriers to insulin therapy and a trend towards improving patients' glycemic control.
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