Navigation Links
Valeritas Announces $150 Million Financing
Date:9/12/2011

BRIDGEWATER, N.J., Sept. 12, 2011 /PRNewswire/ -- Valeritas, Inc., a medical technology company focused on the development and commercialization of innovative drug delivery solutions, announced today it has completed a significant Series C round of financing of $150 million.  This financing will support the commercialization of the V-Go™ Disposable Insulin Delivery Device, which provides basal-bolus insulin therapy for adult patients with diabetes who require insulin.

Welsh, Carson, Anderson & Stowe led the financing and assumes a controlling interest in Valeritas. Existing investors who participated in the Series C financing include: MPM Capital; Pitango Venture Capital; Abingworth; Advanced Technology Ventures; ONSET Ventures; HLM Venture Partners; Agate Medical Investments; CHL Medical Partners; and Kaiser Permanente Ventures.

"We consider this financing a reflection of our investors' belief in Valeritas and the potential for V-Go," said Kristine Peterson, Valeritas Chief Executive Officer.  "Millions of adult patients suffer from Type 2 diabetes and require insulin, and we believe the V-Go will be an important treatment option to assist in the management of their diabetes."

Daniel Pelak, incoming Valeritas Chairman of the Board and Senior Industry Executive at Welsh, Carson, Anderson & Stowe commented, "Valeritas has an innovative product in a therapeutic area with high unmet needs.  We look forward to working with Valeritas' strong executive team to commercialize the V-Go and expand the Company."  

Vaughn M. Kailian, former Valeritas Executive Chairman of the Board and Managing Director of MPM Capital added, "As a long-standing investor, we are excited to continue to finance Valeritas and support the company through commercialization.  This up-round further validates the value of Valeritas and the V-Go."

About the V-Go Disposable Insulin Delivery Device

The V-Go is the first simple, fully-disposable device designed and cleared for the delivery of basal-bolus insulin therapy for adults with diabetes. The V-Go delivers a continuous preset basal rate of insulin and allows for on-demand bolus dosing at mealtimes, thereby providing an alternative to multiple daily insulin injections.  Valeritas has received both FDA 510(k) clearance and European CE Mark certification for the V-Go.

Patients fill the V-Go with insulin using a simple, disposable, point-of-care filling accessory – the V-Go™ EZ Fill (which will be included with each monthly supply of V-Go devices).  A separate prescription for insulin is required for use with the V-Go.  Humalog® and NovoLog® have both been tested by Valeritas, Inc. and found safe for use with the V-Go.

About Valeritas, Inc.

Valeritas is a medical technology company committed to the development and commercialization of innovative drug delivery solutions that contribute to clinical and humanistic outcomes for patients, with an initial focus on the treatment of diabetes.  The Valeritas medical technologies portfolio is headlined by the h-PatchTM technology.  The V-Go Disposable Insulin Delivery Device, designed for the simple delivery of basal-bolus insulin therapy via a preset basal rate and on-demand bolus dosing around mealtimes, is the first use of the h-Patch™ technology.

Headquartered in Bridgewater, NJ, Valeritas operates its R&D and manufacturing in a state-of-the-art facility in Shrewsbury, MA.  For more information on Valeritas and the V-Go™ Disposable Insulin Delivery Device, please visit www.valeritas.com and www.go-vgo.com.

The following investors contributed to the Series C financing:

About Welsh, Carson, Anderson & Stowe

Welsh, Carson, Anderson & Stowe ("WCAS") was formed in 1979 and has focused its investment activities in two industries: information/business services and healthcare. WCAS manages $20 billion in capital and has a current portfolio of approximately 30 companies. WCAS's strategy is to buy growth businesses, partner with outstanding management teams, and build value for its investors through a combination of operational improvements, internal initiatives and strategic acquisitions. For more information, please visit www.welshcarson.com.

About MPM Capital
For more information, please visit www.mpmcapital.com.

About Pitango Venture Capital
For more information, please visit www.pitango.com.

About Abingworth
For more information, please visit www.abingworth.com.

About Advanced Technology Ventures
For more information, please visit www.atvcapital.com.

About ONSET Ventures
For more information, please visit www.onset.com.

About HLM Venture Partners
For more information, please visit www.hlmvp.com.

About Agate Medical Investments
For more information, please visit www.agate-invest.com.

About CHL Medical Partners
For more information, please visit www.chlmedical.com.

About Kaiser Permanente Ventures
For more information, please visit www.kpventures.com.

Humalog is a registered trademark of Eli Lilly and Company.

NovoLog is a registered trademark of Novo Nordisk A/S.


'/>"/>
SOURCE Valeritas, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Valeritas Receives FDA 510(k) Clearance for the V-Go™ Disposable Insulin Delivery Device for Use with NovoLog®
2. Valeritas Receives FDA 510(k) Clearance for the V-Go™ Disposable Insulin Delivery Device
3. InterMune Announces Launch of Esbriet® (pirfenidone) in Germany
4. Advanced Health Media, Inc. Announces New SVP Product Delivery
5. Valeant Pharmaceuticals Announces Mailing of Offer and Take-Over Bid Circular to Shareholders of Afexa
6. NeoStem Announces Participation in Multiple September Conferences
7. Anthera Pharmaceuticals Announces Notice of Allowance of U.S. Patent Application Covering A-002 Plus Statin Compositions
8. Pro-Dex, Inc. Announces Fiscal 2011 Fourth Quarter and Full-Year Financial Results Conference Call and Webcast
9. Pharmacyclics Announces Date of Fiscal Year End 2011 Financial Results and Conference Call
10. Campbell Alliance Announces Executive Promotions and Organizational Changes
11. Angioslide Announces the European Launch of New 300 mm Long Device Allowing Treatment of Entire Superficial Femoral Artery(SFA) with One Device
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... Fla. , Dec. 5, 2016  Breckenridge ... into a multi-product marketing agreement with development and ... injectable products. Under the terms of this agreement, ... its label in the United States ... and one tentatively-approved ANDA. The products cover a ...
(Date:12/5/2016)... , December 5, 2016 According to a new ... and by Application - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", ... expected to reach $5,255 million by 2022, growing at a CAGR of 6.4% ... more than four-fifths share. Continue Reading ... ...
(Date:12/5/2016)... Sanovas, Inc., a life science asset holding company ... wholly owned subsidiary, Intubation Science, Inc., and its LightSpeed Intubation ... http://photos.prnewswire.com/prnh/20161202/445251LOGO   ... Sanovas, Inc. ... There are over 40 million Endotracheal Intubations performed annually ...
Breaking Medicine Technology:
(Date:12/6/2016)... ... December 06, 2016 , ... Gateway Analytical, one of ... particle counting and sizing services for USP 788 and 789 particulate standards compliance. ... as a response to the needs of pharmaceutical and medical device manufacturers, who ...
(Date:12/6/2016)... (PRWEB) , ... December 06, 2016 , ... 'Tis the ... disrupt daily routines. That means it's also the season when eating healthy, staying active, ... with diabetes) on schedule is harder to do. , "Shopping trips, parties and ...
(Date:12/6/2016)... Dublin, CA (PRWEB) , ... December 06, 2016 ... ... Community College District , the only authorized OSHA Training Institute Education Center headquartered ... Health Fundamentals certificate program focused on providing occupational safety and health training to ...
(Date:12/5/2016)... ... December 05, 2016 , ... Edward Buckingham ... announce the arrival of the newest Sciton laser in January 2017. The Halo ... tunable non-ablative and ablative wavelengths for exceptional results. Outperforming more traditional lasers, the ...
(Date:12/5/2016)... ... December 05, 2016 , ... Researchers at Johns Hopkins All Children’s ... of young athletes. Over the course of three years, researchers will study concussions and ... The mouth guards, equipped with special sensors, will track the location and force of ...
Breaking Medicine News(10 mins):