Valeritas raises $150 million in Series C financing
Valeritas 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.
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."