A filing under the Worker Adjustment and Retraining Notification Act states that sleep diagnostics company NovaSom’s headquarters office, located at 108 Cromwell Park Dr, will close on Sept 1, reports the Baltimore Business Journal.
The 27-year-old company develops home tests for obstructive sleep apnea, a condition which causes pausing in breathing during sleep. Novasom is backed by more than $50 million in financing, according to documents filed with the U.S. Securities and Exchange Commission. That includes a $35 million Series D round raised in 2011, led by Pennsylvania-based Safeguard (NYSE: SFE). NovaSom’s previous investors also include Philadelphia-based Quaker Partners and Texas-based TPG Biotech fund.