What You Should Know:
– Cue Health Inc., a health technology company, today announced the closing of a $235 million private financing round. The investment includes participation from new investors Perceptive Advisors, MSD Capital, and Koch Strategic Platforms, a subsidiary of Koch Industries, existing investors Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Decheng Capital, CAVU Ventures, ACME Capital, and others.
– In March, the FDA granted Emergency Use Authorization for the Cue COVID-19 Test for Home and Over The Counter (OTC) Use for symptomatic and asymptomatic individuals, ages 2 and older. The Cue COVID-19 Test for Home and Over The Counter (OTC) Use (Cue OTC Test) uses a lower nasal swab and delivers results in about 20 minutes to the user’s mobile smart device. The Cue OTC Test is authorized for use by symptomatic and asymptomatic individuals, adults and children ages 2 and older with adult assistance. With an easy-to-use, fully guided experience, the Cue OTC Test offers convenience, privacy, safety, and the ability to test frequently, with the accuracy of a centralized lab test.
– The capital will be used to accelerate Cue’s growth as it pioneers a digital transformation of healthcare, beginning with diagnostics.
– Founded in 2010, Cue has worked for the last decade to develop an integrated, universal testing model and platform that could meet the healthcare demands of a global population, addressing many diagnostic needs.