Healthcare Industry News: Procter & Gamble
News Release - April 10, 2014
CeQur(R) Appoints Douglas Lawrence Chief Executive OfficerExperienced Medical Device Executive Will Lead Company Through Scale-Up and International Commercialization of PaQ® Insulin Delivery Device
HORW, Switzerland, April 10, 2014 -- (Healthcare Sales & Marketing Network) -- CeQur® SA, a leader in simple insulin infusion for people with type 2 diabetes, announced the appointment of Douglas Lawrence as chief executive officer, effective immediately. Lawrence replaces CeQur founder James Peterson, who is retiring from the role, but will continue to serve as vice chairman of the CeQur Board of Directors.
Lawrence brings more than 25 years of medical device and pharmaceutical industry experience at category-leading companies including Procter & Gamble and The BOC Group. Over the past 15 years he has held positions of increasing scope and responsibility at Becton Dickinson & Company (BD). He most recently served as vice president for the Insulin Injection business of BD Diabetes Care, where he developed strong strategic drug-delivery partnerships and globally launched a number of insulin delivery innovations.
"Doug Lawrence has the ideal experience, perspective and leadership skills to guide CeQur as the company moves rapidly through manufacturing scale-up and into broad commercialization of the PaQ® Insulin Delivery Device," said Eric Milledge, CeQur chairman. "Importantly, he has proven ability to successfully launch diabetes devices in multiple markets, and understands the needs of those who have diabetes, those who treat the disease, and the companies that support them."
"We also extend our sincere appreciation and gratitude to James Peterson, who had the profound vision to establish CeQur in 2008 and successfully led the company from the design stage of PaQ through CE Mark and first clinical results," Milledge added.
An engineer by training, Lawrence began his career in manufacturing at Procter & Gamble, and subsequently gained experience in a range of functions – including market analytics, finance, corporate strategy, marketing, commercial, and R&D – before moving into several general management positions.
"I was drawn to CeQur by the unprecedented opportunity to guide an exceptional team as they launch an innovative and simple technology that will dramatically alter the landscape of insulin treatment," said Lawrence. "PaQ has demonstrated the ability to make a real difference for the millions of people around the world who are struggling every day to manage their disease."
As CEO, Lawrence will lead the transition of CeQur from the pilot manufacturing stage through establishment of high-volume manufacturing capacity, regulatory approval in the United States and PaQ international commercialization.
"Over the past six years, we have created and validated a unique technology with the potential to significantly reduce the burden of daily insulin injections for the millions of people with type 2 diabetes," said Peterson. "I am confident that Doug's capabilities and background make him the ideal leader to help our team optimize commercialization and position PaQ as the leader in simple insulin infusion."
The lead product candidate from CeQur is the PaQ® Insulin Delivery Device, a simple and affordable device that enables patients to experience the benefits of continuous insulin infusion without the burden of daily insulin injections. PaQ provides three days of consistent, basal insulin along with easy, on-demand bolus insulin. PaQ can reduce known barriers to insulin therapy and has proven effective in clinical trials and usability studies. PaQ has CE Mark approval and will address the emerging $3 billion market for simple insulin infusion.
The Need for Simple Insulin Infusion
There are currently more than 11 million people with type 2 diabetes (T2D) in the United States and the European Union who are taking daily insulin injections. The majority of these people are not achieving target glycemic control. Studies suggest that continuous subcutaneous insulin-infusion (CSII) can improve glycemic control and quality of life. However, due to complexity and cost, CSII is not widely used in T2D.
CeQur is developing and commercializing advanced insulin delivery devices that make it easier for people living with type 2 diabetes to adhere to therapy and stay in control of their disease. CeQur was established in January 2008, and is headquartered in Horw, Switzerland, with operations in Nordborg, Denmark and Marlborough, Massachusetts. More information can be found at www.cequrcorp.com.
Source: CeQur SA
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