Umbra has participated in the Signifier Medical Technologies (SMT) $10m Series C Funding Round led by Alan Howard, VC investor and co-founder of Brevan Howard. SMT has designed the first non-surgical, non-invasive and day-time treatment for snoring and obstructive sleep apnoea, which affects the daily lives of over 200 million people in the US and Europe alone. The Umbra team is extremely excited to be part of the journey to commercialise the product that should improve the lives of millions of people globally.
The proceeds from this latest successful fundraising will allow Signifier to invest further in its innovative and non-invasive solutions for patients with sleep disordered breathing conditions.
The financing round also included participation from James Blair, a career healthcare venture capitalist and Partner/Co-founder of Domain Associates as an additional new investor in Signifier. Existing investors participating in the round included The Pritzker Organization and Signifier’s Chairman Kieran Gallahue, former CEO of both CareFusion, Inc. and Resmed Inc.
Alan Howard commented: “I look for companies that are addressing extensive market opportunities, are rapidly growing, and have experienced leadership teams. I strongly believe Signifier is one of those companies, and I am pleased to support its transformational innovation to address sleep and breathing disorders and chronic care management.”
Joseph Gleberman, Managing Director of The Pritzker Organization, added: “We are pleased to continue supporting Signifier’s breakthrough technology for treating both chronic snoring and obstructive sleep apnea.”
James Blair noted: “I am delighted to become an investor in Signifier, which is combining the tools of information technology with the knowledge of leading physicians to improve the daily lives of millions of people suffering from sleep disordered breathing both conveniently and inexpensively.”
Signifier is continuing to build its operations and infrastructure in preparation for global commercialization of its eXciteOSA® device for mild sleep apnea, while expanding commercialization of its Snoozeal® device for primary snoring.
Akhil Tripathi, CEO and co-founder of Signifier Medical added “I am delighted to have attracted such prominent and well-known investors in our latest financing round. Our non-invasive tongue muscle-neurostimulation devices are the first and only technologies being developed to solve the conditions of mild sleep apnea and snoring and make a real impact on the lives of millions of people worldwide. We recently announced the appointments of Philip Hess, former President and CEO of Bose Corporation, as Chief Operating Officer based in Boston, US, as well as Matt Sharris as Vice President of Sales in the North American market and Steve Saunders as Head of Sales in EMEA. With the addition of this latest financing round we are well prepared to accelerate the commercial phase of our development.”