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:6/23/2016)... 2016  In a startling report released today, National Safety ... lacking a comprehensive, proven plan to eliminate prescription opioid overdoses. ... how states are tackling the worst drug crisis in recorded U.S. ... Kentucky , New Mexico , ... Of the 28 failing states, three – Michigan ...
(Date:6/23/2016)... Research and Markets has announced the addition of ... their offering. The current ... environment for MedImmune to enter. The US ageing population creates ... drive considerable growth for effective anti-influenza medications. The introduction of ... but development is still in its infancy. ...
(Date:6/23/2016)... and BOGOTA, Colombia , June 23, 2016  Astellas today announced the establishment of Astellas Farma ... as the company,s second affiliate in Latin America . ... ... Astellas Farma Colombia ... ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... "FCPX editors can now reveal ... Final Cut Pro X," said Christina Austin - CEO of Pixel Film Studios. ... Cut Pro X users can now reveal the media of their split screens ...
(Date:6/27/2016)... ... June 27, 2016 , ... TopConsumerReviews.com recently awarded their highest five-star rating ... Millions of individuals in the United States and Canada wear eyeglasses. Once considered to ... correct vision and make a fashion statement. Even celebrities use glasses as a way ...
(Date:6/26/2016)... North Carolina (PRWEB) , ... June 26, 2016 , ... ... release of a new product that was developed to enhance the health of felines. ... for centuries. , The two main herbs in the PawPaws Cat Kidney Support ...
(Date:6/25/2016)... ... , ... Austin residents seeking Mohs surgery services, can now turn to Dr. ... Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to include ... in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn ...
(Date:6/25/2016)... ... June 25, 2016 , ... As a lifelong Southern ... Laude and his M.D from the David Geffen School of Medicine at UCLA. He ... Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars Sinai program ...
Breaking Medicine News(10 mins):