Cue Health reels in $45M in series B financing for its diagnostic products

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Investors in the financing round included Johnson & Johnson Innovation. (Pixabay)

Cue Health reeled in more than $45 million in series B financing the company said will be used to complete development and fund U.S. clinical studies of its first set of diagnostics products.

The San Diego-based company said investors in the financing round included Johnson & Johnson Innovation, Section 32, Dentsu Ventures, Synergy Ventures, Principles of Tarsadia Investments, Pritzker Group Venture Capital, Babel Ventures and Troy Capital. Returning investors included Sherpa Capital, Cove Investments and Rohan Oza.

Cue is currently developing a diagnostics platform that can be connected to remote devices like smartphones for use in home by both healthcare professionals and patients for faster and more convenient access to health information.

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“The Cue team has done a great job in advancing our multidisciplinary product development and processes, and we are thrilled to have our new partners’ support as we continue on our journey,” Ayub Khattak, Cue Health’s chief executive, said in a statement.

Earlier this month, Cue received its ISO 13485 certification from the British Standards Institute. The certification is an internationally recognized standard for the development and manufacturing of diagnostic products for medical use. The FDA recently said it plans to adopt ISO 13485 as part of its efforts to be in line with international standards for the regulation of medical devices.

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