Inspire Medical Systems, a Minneapolis, Minn.-based developer of a fully implanted and FDA approved neurostimulation system for the treatment of Obstructive Sleep Apnea (OSA), completed a $40m Series E financing.
The round was led by OrbiMed, with participation from new investors Johnson & Johnson Development Corporation and Aperture Venture Partners and existing investors Kleiner Perkins Caufield & Byers, US Venture Partners, Synergy Life Science Partners, Medtronic, GDN Holdings and TGap Ventures. In conjunction with the funding, OrbiMed Private Equity Partner, Chau Q. Khuong, will join Inspire Medical Systems’ Board of Directors.
The company intends to use the funds to hire new people and make sales efforts.
Led by Tim Herbert, president and CEO, Inspire Medical Systems launched the Inspire® Upper Airway Stimulation (UAS) therapy, a fully implanted device for use in a subset of patients with moderate to severe Obstructive Sleep Apnea (OSA) who are unable to use Continuous Positive Airway Pressure (CPAP) devices, in the United States. The system uses neurostimulation technologies and incorporates a proprietary algorithm which stimulates key airway muscles based on a patient’s unique breathing patterns.