CeQur SA, a company focused on the development and commercialization of insulin delivery systems to improve the management of type 2 diabetes, completed its Series A investment with a final closing of 10.3m Swiss francs, bringing the to 31.7m Swiss francs (approximately $29.6m).
Investors in the Series A include BMC Ventures A/S, Endeavour Vision SA, Schroder & Co Bank AG, and Venture Incubator AG.
As stated by Jim Peterson, founder and CEO of CeQur, “The additional Series A funding provides us with the resources necessary to achieve key regulatory and launch projects related to this product in 2010″. Proceeds 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.
Established in January 2008 as a spin out from Danfoss A/S, a large, global Danish industrial products group, CeQur is headquartered in Montreux, Switzerland, with operations in Nordborg, Denmark and Marlborough, Massachusetts.