Apnex Medical Receives $10,000,000 New Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7ba892db-9800-4baa-a5f6-ba7dd6013851&Preview=1
Date
9/24/2012
Company Name
Apnex Medical
Mailing Address
2890 Centre Pointe Drive St. Paul, MN 55113
Company Description
APNEX Medical is the second spin-out company of Prospex Medical, Inc.,
a medical device incubator founded in 2005 by Michael Berman, Robert
Atkinson, and Chad Kugler. The company is developing a medical device using active implantable technology to treat obstructive sleep apnea.
Website
http://www.apnexmedical.com
Transaction Type
Venture Equity
Transaction Amount
$10,000,000
Transaction Round
Undisclosed
Proceeds Purposes
The company is testing the device on patients in Australia, Europe and the United States. The study will prepare the company to pursue regulatory approval to sell the device.
M&A Terms
Venture Investor
New Enterprise Associates