Segulah Medical Acceleration AB (SMA) has invested in UK-based Signifier Medical Technologies’ USD35 million Series D convertible financing.
Segulah Medical Acceleration AB (SMA) has invested in UK-based Signifier Medical Technologies’ USD35 million Series D convertible financing.
The financing was jointly led by SMA together with Angelus Venture Fund I LP, Alan Howard (co-founder of Brevan Howard Asset Management) and Pioneer Healthcare Partners LP.
Signifier is commercialising proprietary technologies to address the root causes of sleep disordered breathing and are focused on the development of innovative and non-invasive solutions for patients with conditions such as obstructive sleep apnoea (OSA) and primary snoring. This series D financing will underpin the commercialisation of Signifier’s FDA-approved De Novo device and therapy, eXciteOSA, to treat millions of patients around the world suffering from primary snoring and mild OSA.
OSA affects an estimated one billion adults aged 30 to 69 globally, with 60 per cent having mild OSA. The disease is linked to a number of comorbidities, such as hypertension, stroke, heart failure, diabetes, depression, and an increased risk of road traffic accidents. In contrast to complex night-time wearables commonly used to treat OSA, eXciteOSA provides a low-burden, patient-friendly option of daytime therapy. Patients are guided by an intuitive Smartphone App, monitored remotely by their physician, and supported by Signifier’s world-class Patient Advocate support team. Extensive clinical trials and real-world usage indicate high (>80 per cent) adherence to therapy, as confirmed by over 25,000 successfully completed daily therapies which have been recorded through Signifier’s App.
“Segulah Medical is delighted to be co-leading Signifier Medical’s Series D convertible financing. Our focus on providing growth capital to young companies based in Europe fits well with Signifier Medical’s requirement to fund the execution of its commercial strategy and continued investment in clinical trials and new product development. We are very excited about the prospects for eXciteOSA as a revolutionary daytime therapy to treat OSA. With an estimated 25 per cent of the global adult population suffering from sleep disordered breathing, we believe that eXciteOSA will become the first line therapy for these patients,” says Roger Gunnarsson, Managing Partner at SMA.
“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,” says Akhil Tripathi, the CEO of Signifier.
