Israeli obstructive sleep apnea device developer keepMed has announced the completion of a €13 million Series C financing round from new investors Celeste Management, Financière Arbevel and 4See Ventures and existing investors Merieux Equity Partners, Pitango Venture Capital, Xenia Venture Capital, C4 Ventures and Lavorel Medicare.
keepMed has designed and developed keePAP, a unique, responsive and personalized positive airway pressure (PAP) device for treatment of Obstructive Sleep Apnea (OSA). OSA is a disorder characterized by repetitive episodes of upper airway obstruction during sleep, associated with a significantly increased risk of heart disease, diabetes, and stroke and typically involving loud snoring and fragmented non-refreshing sleep.
keePAP uses positive airway pressure to keep the upper airway open. However, instead of pushing tens of liters of pressurized air per minute into the upper airway continuously, keePAP mobilizes the user’s respiratory system to deliver just the amount of PAP needed - intermittently and with minimal airflow.
After receiving EU CE certification and following completion of a first-in-human study at the end of 2019, keepMed will use the new funds to advance keePAP‘s clinical development towards FDA clearance and market launch in the US and Europe.
keepMed CEO Alex Rapoport said, "Our mission is to enable individuals with OSA to breathe without interruption during the night - as naturally as possible and with minimal intervention. A good night's sleep is key for good health and quality of life."
Published by Globes, Israel business news - en.globes.co.il - on September 29, 2020
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