Signifier Medical Technologies closes USD10m Series C funding round
Signifier Medical Technologies (Signifier), a specialist in the sleep disordered breathing market, has closed a circa USD10 million Series C funding round led by Alan Howard, VC investor and co-founder of Brevan Howard.
The proceeds from this latest successful fundraising will allow Signifier to invest further in its innovative and non-invasive solutions for patients with sleep disordered breathing conditions.
The financing round also included participation from James Blair, a career healthcare venture capitalist and Partner/Co-founder of Domain Associates as an additional new investor in Signifier. Existing investors participating in the round included The Pritzker Organization and Signifier’s Chairman Kieran Gallahue, former CEO of both CareFusion, Inc. and Resmed Inc.
Howard says: “I look for companies that are addressing extensive market opportunities, are rapidly growing, and have experienced leadership teams. I strongly believe Signifier is one of those companies, and I am pleased to support its transformational innovation to address sleep and breathing disorders and chronic care management.”
Joseph Gleberman, Managing Director of The Pritzker Organization, adds: “We are pleased to continue supporting Signifier’s breakthrough technology for treating both chronic snoring and obstructive sleep apnea.”
Blair says: “I am delighted to become an investor in Signifier, which is combining the tools of information technology with the knowledge of leading physicians to improve the daily lives of millions of people suffering from sleep disordered breathing both conveniently and inexpensively.“
Signifier is continuing to build its operations and infrastructure in preparation for global commercialisation of its eXciteOSA device for mild sleep apnea, while expanding commercialisation of its Snoozeal device for primary snoring.
Akhil Tripathi, CEO and co-founder of Signifier Medical, adds: “I am delighted to have attracted such prominent and well-known investors in our latest financing round. Our non-invasive tongue muscle-neurostimulation devices are the first and only technologies being developed to solve the conditions of mild sleep apnea and snoring and make a real impact on the lives of millions of people worldwide. We recently announced the appointments of Philip Hess, former President and CEO of Bose Corporation, as Chief Operating Officer based in Boston, US, as well as Matt Sharris as Vice President of Sales in the North American market and Steve Saunders as Head of Sales in EMEA. With the addition of this latest financing round we are well prepared to accelerate the commercial phase of our development.”