Thursday, June 11, 2020

Cue Health Connects With $100M

San Diego-based Cue Health, a developer of rapid molecular testing products, has raised $100M in a Series C funding round, the company said this week. The funding came from Decheng Capital, Foresite Capital, Madrone Capital Partners, Johnson & Johnson Innovation - JJDC, Inc., ACME Capital and other investment firms, according to the company. Cue Health develops rapid molecular testing products, aimed at use in nursing homes, emergency departments, and community health clinics. The company said financing will go towards complete development, validation, and scale-up of manufacturing of the Cue Health Monitoring System and Cue Test Cartridges. The company's products include a molecular test for COVID-19, which is currently under review by the FDA for an Emergency Use Authorization. The company is led by co-founder and CEO Ayub Khattak.