Minimally Invasive Technology for Obstructive Sleep Apnea
XII Medical, Inc., announced the closing of a $45 million Series B equity financing. The financing was led by Omega Funds and joined by new investor Intuitive Ventures. Existing investors also participated, including founding investor Cleveland Clinic, Ajax Health, Longview Ventures (an affiliate of Broadview Ventures), Aperture Venture Partners, JobsOhio Growth Capital Fund and an undisclosed strategic investor. Funds will be utilized to further product and clinical development.
XII Medical has developed a state-of-the-art, patient-centric neuromodulation therapy designed to enhance quality of life for the millions of people suffering from obstructive sleep apnea.
Obstructive sleep apnea (OSA) is a disorder in which the muscles in the throat temporarily relax, causing blockage of the airway during sleep. It is estimated that 425 million people, globally, have moderate to severe OSA requiring treatment. Current treatment options are overly burdensome to patients and physicians, leaving a significant number of patients untreated, undertreated and at risk of severe health complications. XII Medical developed a ground-breaking platform technology to simplify treatment, expand access and improve outcomes.
Read the full press release at PR Newswire.
Sanctuary Software supports XII Medical with user interface design focused on the user experience for patients, clinicians, and technicians. Previous development efforts for XII Medical have included firmware implementation and mobile application development.
About XII Medical
Founded in 2017 and headquartered in Union City, California, XII Medical, Inc. is a clinical-stage medical technology company revolutionizing the treatment of obstructive sleep apnea. Privately held, the company is backed by Cleveland Clinic, Ajax Health, Omega Funds, Longview Ventures, Broadview Ventures, JobsOhio Growth Capital Fund, Intuitive Ventures, Aperture Venture Partners, CincyTech, and an undisclosed strategic investor. The XII Medical platform is limited to investigational use and is not available for sale. Visit https://xiimedical.com/ for more information.
