NightBalance BV, a Delft, The Netherlands-based provider of obstructive sleep apnea (OSA) technology, completed a €12.5m Series B financing.
The round was led by Inkef Capital and Gilde Healthcare Partners with participation from existing investors Thuja Capital, Health Innovation Fund, and Van Herk Ventures. In conjunction with the funding, Dirk Kersten from Inkef, and Pieter van der Meer from Gilde will join the supervisory board, which will be chaired by Jan Keltjens.
The company intends to use the funds to intensify and expand commercial efforts for its innovative Sleep Position Trainer in Europe, and to prepare for the entry into the U.S. market.
Founded in 2009 by Eline Vrijland-van Beest, CEO, NightBalance markets the Sleep Position Trainer, a proprietary device to prevent positional obstructive sleep apnea. CE-marked since 2012, the SPT is currently sold in 11 European countries.
The company is planning for further clinical studies in the U.S., guided by sleep specialist Prof. Dr. David P. White from Harvard Medical School and former Chief Medical Officer for Philips Respironics. Also filing for U.S. Food and Drug Administration 510(k) clearance is being prepared.