Valeritas Completes Series C Funding

Valeritas Inc completed a Series C round of financing of $150 million. This financing will support the commercialization of the company’s 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 CEO.  “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.”  

The company claims that 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.

Based in Bridgewater, N.J., develops drug delivery solutions. The company also operates an R&D and manufacturing in a state-of-the-art facility in Shrewsbury, Mass.