A health tech company backed by Cleveland Clinic has secured $45 million in series B equity financing.
XII Medical, which is developing neuromodulation therapy for patients with sleep apnea, said it plans to use the investment to increase its staff and enhance its technology and clinical research. The funding was led by venture capital firm Omega Funds and included Cleveland Clinic, a founding investor.
"Despite advancements in obstructive sleep apnea therapies, challenges remain that prevent millions of people from receiving adequate treatment," Omega Funds senior associate Saoussen Ben Halima, PhD, said in an Aug. 21 statement. "We believe XII Medical developed a ground-breaking platform technology to simplify treatment, expand access and improve outcomes for patients."