Apnex Medical Receives $10M Financing from New Enterprise Associates
Apnex Medical, Inc., a St. Paul, MN-based private medical device company, has received a $10m financing from New Enterprise Associates (NEA).
Founded in 2006 by Robert Atkinson, President, CEO, Apnex Medical has developed a proprietary medical device for the treatment of OSA.
The Apnex HGNS System is an implantable therapy that is intended to work by activating the muscles in the upper airway to ensure that the airway remains open during sleep. During sleep, the system detects the patient’s breathing and delivers mild stimulation to the hypoglossal nerve, the nerve that controls the muscles that keep the airway open. The stimulation is timed to a patient’s own breathing pattern.
The company intends to use the funds to support its ongoing Apnex Clinical Study (www.SleepApneaTrial.com), which is evaluating the safety and effectiveness of the Hypoglossal Nerve Stimulation (HGNS®) System in obstructive sleep apnea (OSA) patients.