APNEX Medical, Inc. Raises $16.1 Million in Series 'A' Financing

May 14, 2007, 01:00 ET from APNEX Medical, Inc.

    MINNEAPOLIS, May 14 /PRNewswire/ -- APNEX Medical, Inc., announced
 today that it has completed a $16.1 Million private equity financing
 (series 'A') to complete development and initiate clinical studies of its
 proprietary active implantable technology to treat obstructive sleep apnea.
 Participants in the financing include Domain Associates, New Enterprise
 Associates (NEA), Polaris Venture Partners and Michael Berman. The current
 board includes Robert Atkinson, CEO, and Michael Berman, Active Chairman,
 together with Bob More, John Nehra and Brian Chee representing Domain, NEA
 and Polaris, respectively.
     APNEX Medical is the second spin-out company of Prospex Medical, Inc.,
 a medical device incubator founded in 2005 by Michael Berman, Robert
 Atkinson, and Chad Kugler. Earlier this year, Prospex Medical spun-out
 BridgePoint Medical, Inc., which is pioneering solutions to recanalize
 chronic total occlusions.

SOURCE APNEX Medical, Inc.