LUCERNE, Switzerland and MARLBOROUGH, Mass., 1 September, 2015 — CeQur SA
(“CeQur” or the “Company”), a leader in simple insulin infusion for people with diabetes, today
announced a Series C financing of $100 million. The financing will support further clinical and
regulatory activities, manufacturing scale-up and commercial operations for the 2016 first
commercial launch of PaQ®, the Company’s fully optimized second-generation three-day insulin
Woodford Investment Management LLP and Arthurian Life Sciences led this private financing
round. Existing investors including Endeavour Vision, Schroder & Co. Banque SA, and VI
Partners also participated in the round.
“We are very excited to work with such experienced investors who share our views about the
significant opportunity PaQ brings to transform the lives of millions of people with type 2
diabetes,” said Doug Lawrence, CEO of CeQur. “Today when people with type 2 diabetes
progress to insulin they need to inject, and current alternatives have cost and complexity
limitations. CeQur’s second-generation PaQ will provide a superior alternative to injection
therapy and allow us to build a high-growth business in the emerging category of simple and
cost-effective insulin infusion to benefit patients, physicians and payors.”
CeQur has developed PaQ, a simple, three-day, patch-like insulin infusion device. The discreet
device will offer an alternative to insulin injections for people with type 2 diabetes, of which there
are more than 11 million total in the United States and Europe. The potential worldwide market
for simple insulin devices is estimated to be worth approximately $6 billion.
CeQur has manufactured more than 12,000 PaQ devices to date and health-economic studies
demonstrate that PaQ is a cost-effective alternative to insulin injection therapy for people with
type 2 diabetes. The Company has optimized PaQ for high-volume, low-cost manufacturing
and the second-generation device is now being prepared for commercialization.
Prior to product launch, CeQur will have completed three clinical studies among patients
transferred from insulin injection therapy to the PaQ device. Clinical studies with PaQ have
shown a significant improvement in glycemic control and high device satisfaction.
“CeQur has a world-class management team with a best-in-class device that provides a much
needed alternative for millions of people with type 2 diabetes on insulin injections. This was truly
a unique and very compelling investment opportunity, and we were delighted to again work
closely with Neil Woodford to make this significant investment,” said Professor Chris Evans
OBE, chairman, Arthurian Life Sciences.
Peel Hunt LLP acted as financial adviser and placement agent to CeQur SA in connection with