Cue Health
| File:Cue Health Company Logo.jpg | |
| Public | |
| Traded as | Nasdaq HLTH |
| ISIN | 🆔 |
| Founded 📆 | 2010 |
| Founders 👔 | Ayub Khattak, Clint Sever |
| Headquarters 🏙️ | San Diego, California, United States |
Area served 🗺️ | |
Key people | Ayub Khattak (CEO) Clint Sever (Chief Product Officer) |
| Members | |
Number of employees | 500 (January 2021)[1] |
| 🌐 Website | cuehealth.com |
| 📇 Address | |
| 📞 telephone | |
Cue Health is a publicly-traded San Diego, California-based healthcare technology company that develops portable diagnostic tests for at-home use. The company developed the first FDA-authorized COVID-19 diagnostic test for at-home and over-the-counter use without a prescription and physician supervision.
History[edit]
Cue Health was founded as Cue, Inc. in San Diego in 2010, by Ayub Khattak and Clint Sever.[1][2] Khattak became the company's CEO, and Sever became Chief Product Officer.[2]
In November 2014, the company raised $7.5 million in a series A round led by SherpaVentures and Immortalana.[3]
In June 2018, the US health agency Biomedical Advanced Research and Development Authority (BARDA), part of the United States Department of Health and Human Services (HHS) awarded $14 million to the company, now named Cue Health, to develop an inexpensive rapid molecular influenza test.[4] In July, the company closed a $45 million Series B round.[5]
In June 2020, the FDA granted Emergency Use Authorization (EUA) to Cue Health for its point-of-care COVID-19 test.[6] Also in June, the company closed a $100 million Series C funding round, with participation from Decheng Capital, Foresite Capital, Madrone Capital Partners, Johnson & Johnson Innovation, ACME Capital and others.[7]
In October, the Department of Defense awarded Cue Health a $481 million contract to scale-up its manufacturing and distribute 6 million COVID-19 molecular tests across 10 U.S. states, including Alaska, Florida and Texas.[8][9] The program assisted fishing industry workers in Unalaska, Alaska, who could not easily socially distance, nor access laboratory testing services.[10] In November, the National Basketball Association (NBA) announced it had used Cue's COVID-19 test to safely operate its bubble in Orlando during the 2019-20 NBA season.[11]
In March 2021, the FDA granted Cue Health an EUA for its at-home, non-prescription, over-the-counter molecular COVID-19 test.[12] In April, the company announced its Cue for Schools program to provide K-12 schools and universities with its COVID-19 test.[13] In September, the company went public under the symbol "HLTH" on the NASDAQ at a valuation of about $2.3 billion.[14] In October, the company announced it would be serving as the NBA's official home and point of care COVID-19 testing provider for the 2021–22 season, marking its third straight year of partnership with the league.[15]
Products[edit]
Cue Health develops molecular testing devices.
Cue Health's COVID-19 tests amplify and detect the genomic RNA of SARS-CoV-2, the virus that causes COVID-19. The testing system consists of the Cue Health Monitoring System (Cue Cartridge Reader), the Cue COVID-19 Test Cartridge, the Cue Sample Wand, and the Cue Health Mobile Application (Cue Health App) for mobile smart devices. A nasal swab specimen is collected from an individual using the Cue Sample Wand before being inserted into the Cue COVID-19 Test Cartridge and run on the Cue Cartridge Reader, connected to the Cue Health App on a mobile smart device. The test starts automatically and the result is sent to the Cue Health App in about 20 minutes.[16][17][13]
Cue Health also offers products that allow users of the Cue Health App this mobile health dashboard to connect with on-demand telemedicine, proctoring, and prescription services if necessary.[4]
Cue Health also develops a software platform for health providers to manage patient test results and follow-up care.[4]
As of 2018, the company was also reportedly developing a professional-use multiplex test to detect different respiratory pathogens.[4]
Operations[edit]
Cue Health's headquarters and manufacturing facilities are based in San Diego.[1] As of September 2021, the company reported over 1,250 employees.[18]
References[edit]
- ↑ 1.0 1.1 1.2 "Cue Health Expands Operations to Vista". San Diego Business Journal. January 17, 2021. Retrieved January 11, 2022.
- ↑ 2.0 2.1 "Cue's Smartphone Device Intended to Give Consumers an Inexpensive Way to Perform Certain Medical Laboratory Tests at Home". Dark Daily. August 27, 2014. Retrieved January 11, 2022.
- ↑ "Cue Draws In $7.5M For Its Health Tracking Lab-In-A-Box". TechCrunch. November 19, 2014. Retrieved January 11, 2022.
- ↑ 4.0 4.1 4.2 4.3 "Cue Health's COVID-19 cartridge test authorized for home use with no prescription". University of Minnesota - CIDRAP. July 12, 2018. Retrieved January 12, 2022.
- ↑ "Cue Health reels in $45M in series B financing for its diagnostic products". Fierce Biotech. July 11, 2018. Retrieved January 10, 2022.
- ↑ "Cue Health's portable, fast COVID-19 test gains FDA emergency approval". TechCrunch. June 12, 2020. Retrieved January 11, 2022.
- ↑ "Cue Health raises $100 million to speed development of rapid, portable COVID-19 diagnostics". TechCrunch. June 10, 2020. Retrieved January 11, 2022.
- ↑ "San Diego's Cue Health awarded $481M by US government for rapid COVID-19 test". San Diego Union Tribune. October 14, 2020. Retrieved January 11, 2022.
- ↑ "Cue Health awarded $481 million to scale up production of COVID-19 test: HHS". Reuters. October 13, 2020. Retrieved January 12, 2022.
- ↑ "New COVID test key to saving Alaska's salmon season, fishing jobs". Fox Business. April 28, 2021. Retrieved January 11, 2022.
- ↑ "HHS launches pilot program in five states using rapid Covid test deployed by NBA". CNBC. November 19, 2020. Retrieved January 11, 2022.
- ↑ "FDA gives Cue Health first EUA for at-home, OTC COVID-19 molecular testing". Mobile Health News. March 5, 2021. Retrieved January 12, 2022.
- ↑ 13.0 13.1 "Cue Health Launches New COVID-19 Testing Program for Schools". Govtech. April 6, 2021. Retrieved January 12, 2022.
- ↑ "Covid Test Maker Cue Health Goes Public At $2.3 Billion Valuation As Demand Surges". Forbes. September 24, 2021. Retrieved January 12, 2022.
- ↑ "Cue Health snags the rebound, reupping NBA COVID testing contract for another season". Fierce Biotech. October 14, 2021. Retrieved January 11, 2022.
- ↑ "FDA EUA200248". FDA.gov. March 26, 2021. Retrieved January 11, 2022.
- ↑ "Cue Health's COVID-19 cartridge test authorized for home use with no prescription". Fierce Biotech. March 8, 2021. Retrieved January 11, 2022.
- ↑ "Google's provider of at-home Covid-19 tests is now a $3 billion company traded on Nasdaq". CNBC. September 24, 2021. Retrieved January 12, 2022.
External links[edit]
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