CeQur is looking to treble the size of its workforce in Massachusetts with an expansion of the plant in Marlborough it plans to use to make the PaQ insulin device it hopes to launch this year.
PaQ, a patch-like device, is designed to deliver both basal insulin and on-demand bolus insulin over 3 days. CeQur says it’s optimized the device for high-volume, low-cost manufacturing ahead of the planned commercialization of the 2nd generation this year. The 1st-generation PaQ device won CE Mark approval in the European Union in November 2012.
CeQur, which is based in Marlborough and Lucerne, Switzerland, said today that it’s expanding its Bay State home to 25,000 square feet later this year, and plans to take its workforce there from 50 to 150 employees over the next 2 years.
“Over the past year, we’ve optimized PaQ for high-volume, low-cost manufacturing and continued to amass clinical evidence that demonstrate PaQ will offer a safe, simple-to-use and cost-effective alternative to daily insulin injections for people with Type II diabetes,” CEO Doug Lawrence said in prepared remarks. “We are excited to be expanding our facilities here in Marlborough in preparation for the market introduction of PaQ.
“Marlborough has been our U.S. base since CeQur was founded, and we’ve been extremely pleased with the resources available to us here, as well as the support we’ve received from the robust Massachusetts life-sciences and medical device community,” Lawrence added. “We are confident that this is the best place to continue to build our company and capabilities.”
The plant expansion was due to be celebrated today in a “wall-breaking” ceremony attended by Mass. Gov. Charlie Baker (R) and other state and private-sector officials.
“The continued investment and expansion of companies like CeQur speaks to Massachusetts’ leadership in life sciences and the medical device industry,” Baker said in a press release. “The expansion of their facility in Marlborough and creation of new job opportunities is important not only to the people of the Commonwealth, but all those who can benefit from continued advancements in treatments for diabetes around the world.”
Last September CeQur raised a Series C round worth $100 million in what its backers called the largest medtech financing in Europe since 2006. The company raised $27 million in a Series B round in April 2014 and closed a $30 million Series A round back in January 2010.