Diabetes devices maker Valeritas announced today that it closed a structured debt financing with $100 million to support commercial efforts of its V-Go insulin delivery system.
The new funding adds to Valeritas’ previously raised $150 million in equity, as well as continued support from the company’s private equity and venture capital backers, the company said.
The V-GO system is a fully-disposable means of delivering continuous insulin for 24 hours based on a preset rate, with on-demand dosing for meal times.
The new financing came from Capital Royalty L.P., which touted the novelty of the V-Go system.
"The V-Go is unlike anything else on the insulin delivery market for patients with Type II diabetes," Capital Royalty chairman & founder Charles Tate said in prepared remarks. "We see great long-term potential in the V-Go and our investment in Valeritas aligns with our continued focus on building customized financing solutions for healthcare companies with innovative commercial technologies."
