Inspire Medical raises $40M to market sleep apnea device

Inspire Medical Systems, which makes an implanted device to treat sleep apnea, has raised $40 million in Series E funding, the company announced. The new funding will be used to market the device in the U.S.

The FDA recently cleared the Inspire therapy device, which can be used in a subset of patients with moderate to severe obstructive sleep apnea (OSA) who are unable to use continuous positive airway pressure (CPAP) devices. Inspire therapy uses mild stimulation of the hypoglossal nerve to maintain an open airway during sleep.

Inspire therapy is a fully implanted system consisting of three components: a small generator, a sensing lead, and a stimulation lead. The single external component is a small handheld Inspire sleep remote used to turn the therapy on before bed and off upon waking. When activated, Inspire therapy senses breathing patterns and delivers mild stimulation to key airway muscles, which keeps the airway open during sleep. In contrast to other surgical options to treat sleep apnea, Inspire therapy does not require removal or permanent alteration of facial or airway anatomy, according to the company.

Inspire also announced that Richard Buchholz has been appointed as the chief financial officer (CFO). Mr. Buchholz is a veteran medical device CFO, most recently serving as CFO of superDimension.