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.