Article: Valeritas' SPAC Deal Gets $140M For Insulin Therapy.(Company overview)

West Coast Editor

With its approved h-Patch delivery system, Valeritas Inc. - soon to be majority owned by Paramount Acquisition Corp. - hopes to capture the burgeoning market for insulin that Type II diabetics find easy to use.

"We wanted to create some clever, differentiating tools to deliver molecules and go around the oral route," said Robert Gonnelli, who founded Westborough, Mass.-based BioValve Technologies Inc. in 1998, and spun out Valeritas about two weeks ago.

The h-Patch, recently the subject of 510(k) clearance from the FDA, drew the attention of Paramount, of New York, an affiliate of Paramount Biosciences, also of New York, which ...

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