Date: 2015-05-20
Type of information: Series B financing round
Company: Companion Medical (USA - CA)
Investors: Eli Lilly (USA - IN) Diamyd Medical (Sweden)
Amount:
Funding type: series B financing round
Planned used: The funding will be used to complete Companion Medial’s development of an insulin injector pen connected to a smartphone app. Lilly’s investment, along with other investors, could potentially enable Companion to complete testing and 510(k) submission to the Food and Drug Administration of its Bluetooth-enabled insulin pen and associated smartphone app, which could address a significant unmet need in the diabetes space.
Others: * On May 22, 2015, Companion Medical, a San Diego-based medical device company developing advanced systems for delivery of insulin and other drugs, has announced the completion of a series B financing, led by an investment from Eli Lilly and Diamyd Medical. Eli Lilly has invested $ 3 million in Companion and the group will sit on the Board of Directors of Companion Medical. Diamyd Medical has increased its investment in Companion Medical by $ 150,000. Diamyd Medical holds, which was announced in April 2014 when Diamyd Medical made its initial investment in Companion, distribution rights to Companion’s future products in the Nordic region. Diamyd Medical’s shareholding in Companion Medical is after the investment approximately 8.5 %.
Therapeutic area: Metabolic diseases
