Cue Health Completes $45MM Series B Financing
San Diego, CA—(July 10, 2018)– Cue Health Inc. (“Cue”), a healthcare technology company developing a range of diagnostic products for professionals and consumers, announced today it has raised over $45MM in Series B financing. The financing will be used to complete development and fund the initial set of FDA 510(k) clinical studies for Cue’s first set of diagnostic products.
New investors in the round are Johnson & Johnson Innovation – JJDC, Inc., Section 32, Dentsu Ventures, Synergy Ventures, Principles of Tarsadia Investments, Pritzker Group Venture Capital, Babel Ventures and Troy Capital. Returning investors include Sherpa Capital, Cove Investments and Rohan Oza.
“We are excited to partner with this group of investors who have strong expertise across medical diagnostics, regulatory affairs and consumer health; their strategic guidance will be invaluable as we move into this next phase of the business and continue to build our technological platform. The Cue team has done a great job in advancing our multi-disciplinary product development and processes, and we are thrilled to have our new partners’ support as we continue on our journey,” said Ayub Khattak, Founder and CEO of Cue Health Inc.
About the Cue Health Monitoring System
The Cue Health Monitoring System is a portable, compact, connected diagnostic platform that provides the power of lab-quality molecular testing at point-of-care, when and where it is needed the most. The Cue Health Monitoring system works with the Cue Test Cartridge, the Cue Sample Wand, and the Cue Health App to convert test samples into accurate digital results. The single-use Cue Test Cartridge contains all the biochemistry needed to perform the molecular test. The Cue Sample Wand is a nasal swab supplied with the Cue Test Cartridge. The reusable, battery-operated Cue Cartridge Reader runs the Cue Test Cartridge and communicates results directly to the Cue Health App in about 20 minutes via a mobile smart device. The Cue Health App on the user’s mobile smart device is the user interface for test information, instructions, and display of the test results. Designed as a complete diagnostic tool, the Cue Health Monitoring System along with the Cue Test Cartridge and the Cue Health App deliver actionable health data at point-of-care.
COVID-19 Test Cartridge
The Cue COVID-19 Test Cartridge is a single-use, self-contained unit that utilizes proprietary technology to apply the reagents and associated materials required for molecular detection of the SARS-CoV-2 virus, the virus that causes COVID-19. The Cue COVID-19 Test is a high-sensitivity molecular assay that is being deployed to address urgent unmet needs in COVID-19 testing. On June 10, 2020, Cue received Emergency Use Authorization (EUA) from the US Food and Drug Administration for use of the Cue COVID-19 Test Cartridge with the Cue Health Monitoring System to detect nucleic acid from SARS-CoV-2 in nasal specimens from individuals who are suspected of COVID-19 by their healthcare provider.
About Cue Health
Cue Health Inc. (“Cue”) is an ISO 13485-certified company founded by Ayub Khattak and Clint Sever focused on developing and manufacturing professional and consumer medical diagnostic products that can be used in clinical or at-home settings. Cue’s mission is to create tools that empower healthcare providers and consumers by increasing their access to actionable health data. Cue’s first product, the Cue Health Monitoring System with the Cue COVID-19 Test Cartridge, is a platform that provides diagnostic information to clinicians and patients seeking to benefit from a connected healthcare delivery ecosystem. The company is based in San Diego, CA. For more information visit www.cuehealth.com
July 10, 2018
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