Ninox Medical, a Lyon, France-based developer of a device for OSA treatment, raised $10m in Series B financing.
The round was led by Mérieux Développement and Pitango Venture Capital with participation from current investor Xenia Venture Capital. Pitango’s Dr. David Israeli and Mérieux Développement’s Valérie Calenda, will be joining Ninox Medical’s board of directors in conjunction with the funding.
The funds will be used to to scale operations, further develop the company’s KeePAP™ device to obtain the CE Mark and 510k approval, reinforce its management and technical team and build the required infrastructure for larger clinical trials and for commercialization.
Founded in 2012 and led by Alex Rapoport, CEO, Ninox Medical develops and commercializes a device for the treatment of OSA. The KeePAP™ device is a small and wearable Automatic Positive Airway Pressure system, which does not require the use of air blower and mask found in existing solutions.