ImThera and Cyberonics Support Development of Device To treat Obstructive Sleep Apnea
SleepApneaDisorder/[ Press Release ]/HOUSTON/Cyberonics, Inc. a global leader in medical devices for the treatment and management of epilepsy, today announced an initial investment of $4 million in ImThera Medical, Inc. (“ImThera“). Based in San Diego, California, ImThera is an early-stage company developing a novel, implantable neurostimulation device for the treatment of obstructive sleep apnea (“OSA”).
The investment in ImThera can total $12 million subject to the achievement of certain regulatory and clinical milestones. Cyberonics is a minority shareholder with certain rights, including representation on ImThera’s board of directors. In addition, ImThera will raise up to $4 million from its private investors, for a total Series C placement of up to $16 million.
OSA is a serious, potentially life-threatening condition associated with significant long-term health problems and accompanying costs. ImThera’s Targeted Hypoglossal Neurostimulation (THN) Sleep Therapy combines a multi-contact electrode specifically designed to control certain muscles of the tongue with an implantable pulse generator and an external programmer. The company is currently pursuing CE Mark regulatory approval in the European Union and expects to initiate a pivotal clinical trial in the U.S. in the near future.
“OSA affects millions of people in the U.S. and around the world,” said Dan Moore, Cyberonics’ President and Chief Executive Officer. “We are excited about the opportunity to invest in a promising new therapeutic neurostimulation technology outside our core business.”
“ImThera is pleased to have Cyberonics as an investor and partner. Cyberonics brings outstanding experience to our board, providing significant expertise to ImThera as we continue to execute our plan,” stated Marcelo Lima, ImThera’s Chairman, President and Chief Executive Officer.
About Cyberonics, Inc. and the VNS Therapy® System
Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation. The company developed and markets the VNS Therapy System, which is FDA-approved for the treatment of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses an implanted medical device that delivers electrical pulsed signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.
Additional information on Cyberonics and the VNS Therapy System is available at www.cyberonics.com.
ImThera Medical is an early-stage company that has developed a novel, neurostimulation medical device for the treatment of Obstructive Sleep Apnea (OSA). Through targeted tongue-muscle stimulation, ImThera’s open-loop hypoglossal nerve multi-contact device delivers muscle tone to key tongue muscles during sleep, opening the upper airway and substantially reducing or eliminating OSA events.
ImThera’s mission is to help patients live longer and enjoy better lives while substantially reducing health care costs related to serious complications associated with Obstructive Sleep Apnea. Additional information on ImThera and the THN Sleep System is available at www.imtheramedical.com.
Tagged with: cyberonics • Epilepsy • ImThera • Medical Devices • Obstructive Sleep Apnea • OSA • Sleep Apnea • Sleep Apnea Device • Sleep Apnea Treatment • Sleep Therapy • Targeted Hypoglossal Neurostimulation • Treatment of Obstructive Sleep Apnea
Filed under: Obstructive Sleep Apnea • Press Release • Sleep • Sleep Apnea • Sleep Apnea Devices • Sleep Apnea Equipments • Sleep Apnea Events • Sleep Apnea News • Sleep Apnea Treatment • Sleep Problems
Like this post? Subscribe to my RSS feed and get loads more!