CeQur® Closes $100 Million Series E, Backed by Commercial Momentum and Growing Demand for CeQur Simplicity™
CeQur, a company focused on simplifying mealtime insulin delivery for individuals with diabetes, has announced the completion of a $100 million Series E financing round. This investment is seen as a testament to sustained investor confidence in CeQur's commercial growth, its robust product pipeline, and the increasing demand for simpler mealtime insulin solutions.
The funds from the Series E financing will accelerate CeQur's growth across various aspects of its commercial operations. The company plans to expand its field sales team to enhance relationships with healthcare providers and diabetes specialists who seek more straightforward insulin delivery options for their patients. CeQur Simplicity™ is set to broaden its offerings with longer wear options and multiple dosing configurations to cater to a larger patient demographic.
Bradley Paddock, President and Chief Executive Officer of CeQur, stated, "We have the commercial infrastructure, new clinical evidence, and an exciting pipeline. Now we have the capital to accelerate our growth." He emphasized that CeQur Simplicity aims to reach every patient and physician interested in simplifying insulin delivery.
The adoption of CeQur Simplicity is increasing across primary care and endocrinology practices in the United States, with over 85% of insurance claims covered under pharmacy benefits and an average patient copay of less than $45 per month. Clinical data shows that nearly 90% of patients have reported better adherence to their insulin regimens with CeQur compared to traditional multiple daily injections, along with improved A1C levels and time-in-range outcomes.
Mike Rubino, Chief Financial Officer of CeQur, remarked on the financing's significance, stating, "This financing is a direct reflection of what the CeQur team has built and the confidence our investors have placed in CeQur's growth trajectory." He added that the company is committed to effectively utilizing this investment to maximize the potential of CeQur Simplicity for patients, healthcare providers, and investors alike.
With new clearances from the FDA, strong clinical evidence, and the recent funding, CeQur Simplicity aims to provide effective insulin delivery options for patients seeking simpler solutions.