MINNETONKA, Minn., Dec. 18, 2017 /PRNewswire/ -- Respicardia, Inc., a private medical technology company, announced today that the company has closed a $58.5 million financing, led by ZOLL Medical Corporation, a leading manufacturer of medical devices and related software solutions. All of Respicardia's existing major investors helped to complete the financing round.
"We believe the remed?® System will soon become the treatment of choice for patients suffering from central sleep apnea and are pleased to receive significant funding from ZOLL in support of this important mission," stated Bonnie Labosky, President and CEO of Respicardia. "Proceeds from the financing will be used to fund our U.S. commercialization efforts and support ongoing development of the system."
Central Sleep Apnea (CSA) is a serious breathing disorder that disrupts the normal breathing pattern during sleep and negatively affects quality of life and overall cardiovascular health. CSA results from the brain's inability to send appropriate signals to the respiratory muscles to stimulate breathing. The remed? System is clinically proven to safely and effectively treat moderate to severe CSA in adult patients and improve quality of life.
"The remed? System is a breakthrough technology that uniquely treats the devastating effects CSA has on a person's quality of life and cardiovascular health," explained Jonathan A. Rennert, CEO of ZOLL. "This investment in Respicardia exemplifies ZOLL's commitment to advance novel therapies, especially those that address heart failure or one of its many co-morbidities such as central sleep apnea."
The remed? System is a transvenous implantable neurostimulation system that stimulates the phrenic nerve, and engages the diaphragm to restore a normal breathing pattern during sleep in patients with CSA. The remed? System pivotal trial, published in The Lancet, demonstrated that transvenous neurostimulation with the remed? System can significantly reduce the severity of CSA, improve sleep, quality of life and patient satisfaction.
The remed? System received U.S. Food and Drug Administration (FDA) approval in October of 2017 and is commencing market release of the system in the United States.
About Respicardia
Respicardia is a private medical technology company dedicated to improving the lives of patients by developing implantable therapies designed to improve respiratory and cardiovascular health. The company's initial product, the remed? System, is an implantable neurostimulation system designed to restore a more normal breathing pattern during sleep for moderate to severe central sleep apnea adult patients.
About ZOLL Medical Corporation
ZOLL Medical Corporation, an Asahi Kasei Group Company, develops and markets medical devices and software solutions that help advance emergency care and save lives, while increasing clinical and operational efficiencies. With products for defibrillation and monitoring, circulation and CPR feedback, data management, therapeutic temperature management, and ventilation, ZOLL provides a comprehensive set of technologies that help clinicians, EMS and fire professionals, and lay rescuers treat victims needing resuscitation and acute critical care. For more information, visit www.zoll.com.
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"We believe the remed?® System will soon become the treatment of choice for patients suffering from central sleep apnea and are pleased to receive significant funding from ZOLL in support of this important mission," stated Bonnie Labosky, President and CEO of Respicardia. "Proceeds from the financing will be used to fund our U.S. commercialization efforts and support ongoing development of the system."
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Central Sleep Apnea (CSA) is a serious breathing disorder that disrupts the normal breathing pattern during sleep and negatively affects quality of life and overall cardiovascular health. CSA results from the brain's inability to send appropriate signals to the respiratory muscles to stimulate breathing. The remed? System is clinically proven to safely and effectively treat moderate to severe CSA in adult patients and improve quality of life.
"The remed? System is a breakthrough technology that uniquely treats the devastating effects CSA has on a person's quality of life and cardiovascular health," explained Jonathan A. Rennert, CEO of ZOLL. "This investment in Respicardia exemplifies ZOLL's commitment to advance novel therapies, especially those that address heart failure or one of its many co-morbidities such as central sleep apnea."
The remed? System is a transvenous implantable neurostimulation system that stimulates the phrenic nerve, and engages the diaphragm to restore a normal breathing pattern during sleep in patients with CSA. The remed? System pivotal trial, published in The Lancet, demonstrated that transvenous neurostimulation with the remed? System can significantly reduce the severity of CSA, improve sleep, quality of life and patient satisfaction.
The remed? System received U.S. Food and Drug Administration (FDA) approval in October of 2017 and is commencing market release of the system in the United States.
About Respicardia
Respicardia is a private medical technology company dedicated to improving the lives of patients by developing implantable therapies designed to improve respiratory and cardiovascular health. The company's initial product, the remed? System, is an implantable neurostimulation system designed to restore a more normal breathing pattern during sleep for moderate to severe central sleep apnea adult patients.
About ZOLL Medical Corporation
ZOLL Medical Corporation, an Asahi Kasei Group Company, develops and markets medical devices and software solutions that help advance emergency care and save lives, while increasing clinical and operational efficiencies. With products for defibrillation and monitoring, circulation and CPR feedback, data management, therapeutic temperature management, and ventilation, ZOLL provides a comprehensive set of technologies that help clinicians, EMS and fire professionals, and lay rescuers treat victims needing resuscitation and acute critical care. For more information, visit www.zoll.com.
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SOURCE Respicardia, Inc.
