Navigation Links
Apnex Medical, Inc. Raises Additional $14 Million
Date:12/3/2009

ST. PAUL, Minn., Dec. 3 /PRNewswire/ -- Apnex Medical, Inc., a private medical device company, announced that it has completed a second round of private equity financing totaling $14 million. The funds will be used to complete a clinical study and develop a second generation of its proprietary implantable technology designed to treat obstructive sleep apnea (OSA).

Participants in the financing include Domain Associates, New Enterprise Associates (NEA), Polaris Venture Partners and Michael Berman. The current board includes Robert Atkinson, CEO, and Michael Berman, Chairman, together with Brian Chee, John Nehra and Nimesh Shah representing Polaris, NEA and Domain, respectively. This financing brings the total investment in Apnex Medical to $30 million.

"We are very excited about the early results with the Apnex Hypoglossal Nerve Stimulation (HGNS(TM)) System in our clinical study. Our technology really has the potential to change the lives of people suffering from OSA. This round of financing will allow us to finish our initial clinical study and get us that much closer to market," said Robert Atkinson, CEO.

"From prior research, we know that hypoglossal nerve stimulation has the potential to reduce OSA severity. The Apnex HGNS System operates on similar principles, and this study should provide evidence of its safety and effectiveness over time," said Alan R. Schwartz, M.D., Professor of Medicine, Johns Hopkins University School of Medicine. Dr. Schwartz, as well as Philip Smith, M.D., also a Professor of Medicine at Johns Hopkins, are among the early pioneers in this field and serve as consultants to Apnex Medical.

About Apnex Medical

Apnex Medical was founded in 2006 with a mission to pioneer medical innovations to improve the health of people with sleep disordered breathing. The company has developed a proprietary implantable medical device for the treatment of OSA. The Apnex HGNS System is currently being evaluated in clinical studies in Australia and the United States.

About Obstructive Sleep Apnea (OSA)

"OSA is a very serious health condition, and if left untreated, it can lead to major health problems. Currently the majority of sleep apnea remains undiagnosed and among those who are diagnosed, many are either untreated or only partially treated. Thus, many of us are supportive of research into new forms of therapy," said Atul Malhotra, Medical Director of the Brigham and Women's Sleep Disorders Research Program and an Associate Professor at Harvard Medical School in Boston. Dr. Malhotra performs research into the mechanisms underlying sleep apnea and serves as a consultant to Apnex Medical. Malhotra further stated, "If you think you have a sleep problem, you should talk to your doctor or consider seeing a specialist."

According to the World Health Organization, approximately 100 million people worldwide are suspected to have OSA. In the United States, symptomatic OSA affects 1 in 4 men and 1 in 9 women. OSA causes fragmented sleep and excessive daytime sleepiness, resulting in an increased risk in accidents and lost productivity. Untreated OSA is also associated with an increased risk in stroke, high blood pressure, coronary artery disease, heart failure and type 2 diabetes. Recent studies have also confirmed that untreated OSA is associated with an increased risk of death. Current OSA treatments are not always successful or well tolerated. The Apnex HGNS System is designed to provide an alternative treatment for OSA that addresses these problems.

To request additional information, please contact:


Apnex Medical, Inc.
2890 Centre Pointe Drive
St. Paul, MN 55113 USA
+1.651.757.4300
www.apnexmedical.com

CAUTION: The Apnex HGNS System is an investigational device and is limited by Federal Law to investigational use.

FOR CLINICAL TRIAL USE ONLY.

Apnex Medical and HGNS are trademarks of Apnex Medical, Inc.

© Apnex Medical, Inc. 2009. All rights reserved.

SOURCE Apnex Medical, Inc.


'/>"/>
SOURCE Apnex Medical, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Prescient Medical, Inc. Acquires New Technology to Detect Inflammation in Coronary Blood Vessels
2. Prescient Medical, Inc. Achieves Successful Clinical Debut of vProtect(TM) Luminal Shield
3. China Sky One Medical, Inc. Announces 26 New Drugs in Clinical Trials
4. China Sky One Medical, Inc. Achieves Significant Breakthrough in Research for Sudden Cardiac Death (SCD) Early Examination Kit
5. New Study Shows that Prebiotics, as Used by Jackson GI Medical, Increases Lifespan by 33%
6. Luminous Medical, Inc. Secures Exclusive Rights to Glucose Sensor for Its Automated Glucose Monitor
7. Cardiva Medical, Inc. Announces the Departure of its President and his Appointment as CEO of Innovative Energy, Inc.
8. Cardo Medical, Inc. Announces Closing of $6.2 Million Private Placement
9. China Sky One Medical, Inc. Announces Record Third Quarter 2009 Results
10. China Sky One Medical, Inc. Achieved Progress in the Development of Two New Biological Testing Kits
11. Globus Medical Raises $110 Million in Series E Financing Round
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... report to their offering. ... kidney failure, it replaces the function of kidneys by removing ... thus the treatment helps to keep the patient body,s electrolytes ... Increasing number of ESRD patients & substantial healthcare expenditure ...
(Date:6/23/2016)... , June 23, 2016 Roche (SIX: ... 510(k) clearance for its Elecsys BRAHMS PCT (procalcitonin) assay ... sepsis or septic shock. With this clearance, Roche is ... a fully integrated solution for sepsis risk assessment and ... with bacterial infection and PCT levels in blood can ...
Breaking Medicine Technology:
(Date:6/23/2016)... ... June 23, 2016 , ... Representatives of CHA Fertility Centers ... member of their staff, Dr. Joshua J. Berger. As of May 2016, Dr. ... world-renowned facility. , Dr. Berger has received recognition for his research, his teaching and ...
(Date:6/23/2016)... ... June 23, 2016 , ... Horizon Blue Cross Blue Shield ... relief from the crushing burden of sky-high health care costs, Superior Court of ... ruling ( http://www.judiciary.state.nj.us/opinions/a2913-15a2929-15.pdf ) the court provided some analysis of the contracts ...
(Date:6/23/2016)... ... ... As part of an ongoing commitment to encourage living a healthy and ... BCBSNJ) have teamed up with New Jersey native and PGA Tour member Morgan Hoffmann ... lifestyle. , Through Healthy Steps NJ, Hoffmann will share a series of health education ...
(Date:6/23/2016)... ... ... A key metric of this success is the popularity of the Leafedin.org service ... areas that lack the kind of technology and networking framework that LeafedIn.org provide, where ... the marijuana industry, no matter how small or large, and more importantly no matter ...
(Date:6/23/2016)... ... June 23, 2016 , ... King Kullen’s Shop OnLine, the ... to yet another location: Garden City Park. This is the fourth store to be ... grocery delivery service is offered by King Kullen and allows customers to place orders ...
Breaking Medicine News(10 mins):