Apnex Medical raises $30mm in first venture round

Deal summary reprinted from Strategic Transactions - December 2009

Device start-up Apnex Medical grossed $16.1mm in its Series A financing, which included Domain Associates, New Enterprise Associates, Polaris Venture Partners, and individual investor and company chairman Michael Berman. Members from each VC firm join Apnex's board. Read more...

Apnex Medical raises $30mm in first venture round

Deal summary reprinted from Strategic Transactions - December 2009

Apnex plans to use the money to finish development and start clinical testing of a class III implantable device that delivers functional electrical stimulation to obstructive sleep apnea patients. The company was founded by medical technology incubator Prospex Medical, which also spun out BridgePoint Medical, another device maker (coronary and peripheral chronic total occlusions) that raised $10mm in a Series B in January 2007.

UPDATE 12/2009:

The company has brought in another $14mm from returning backers Domain Associates, New Enterprise Associates, Polaris Venture Partners, and APnex chairman Michael Berman.

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