Signifier Medical Technologies Ltd, which markets the first US Food and Drug Administration-approved daytime therapy for snoring and mild obstructive sleep apnea, has successfully raised $35 million in its Series D capital raise. This financing will underpin the commercialization of Signifier’s FDA-approved de novo device and therapy, eXciteOSA.
The proceeds of the financing will be directed towards commercialization of eXciteOSA in Signifier’s core target markets, continued development of Signifier’s proprietary digital patient and physician interface platforms, the generation of additional clinical data to reinforce the therapeutic efficacy of eXciteOSA, and progressing reimbursement.
Sleep physician Asim Roy, MD, medical director of the Ohio Sleep Medicine Institute, says in a release, “My patients’ experience with eXciteOSA has been truly remarkable. The therapy has proven to be transformational in terms of its clinical efficacy and its impact on patients’ health and their quality of life. With the current challenges facing the sleep market, there could not be a better time for a viable, effective and easily accessible alternative to CPAP for mild OSA patients.”
Roger Gunnarsson, managing partner of Segulah Medical Acceleration, a fund which seeks to invest in and develop game changing businesses within medical technologies, says in a release, “Segulah Medical is delighted to be co-leading Signifier Medical’s Series D financing. We are very excited about the prospects for eXciteOSA as a revolutionary daytime therapy to treat OSA. With an estimated 25% of the global adult population suffering from sleep disordered breathing, we believe that eXciteOSA will become the first line therapy for these patients.”
David Jarvis, managing partner of Angelus Partners, LLC, says in a release, “We believe that Signifier Medical Technologies has created the most disruptive, noninvasive treatment for OSA that the market has seen in the past 20 years.”
Akhil Tripathi, CEO of Signifier, says in a release, “Our Series D fund raise will enable Signifier to bring our novel therapy to millions of patients suffering from sleep disordered breathing for whom there is today no effective treatment. We are truly grateful for the strong support the company has received from both our existing shareholders and new investors, which provides strong validation of our technology, team and commercial strategy.”