Apnex Medical, Inc., a St. Paul, MN-based medical device company, announced that it has completed a $14m second round of private equity financing.
Participants in the round include Domain Associates, New Enterprise Associates (NEA), Polaris Venture Partners and Michael Berman. This financing has brought the total investment in Apnex Medical to $30m.
The company has developed a proprietary implantable medical device for the treatment of obstructive sleep apnea (OSA). The Apnex Hypoglossal Nerve Stimulation (HGNS) System is currently being evaluated in clinical studies in Australia and the United States.
The funds from the round will be used to complete these studies and develop a second generation of the technology.