Inspire Medical Systems, a US-based sleep apnea treatment developer backed by medical device maker Medtronic and healthcare group Johnson & Johnson, has closed a $37.5m series F round.
The round was led by Amzak Health, a branch of Amzak Capital Management, the investment vehicle for the Kazma family. Other participants have not been disclosed, but the Star Tribune reported that the round featured 10 investors including Medtronic and Johnson & Johnson.
Inspire has created an implantable device that works with the body’s natural breathing process to treat moderate to severe sleep apnea. It disclosed the funding alongside an announcement that it has reached 1,000 implants since the device was approved in the US in May 2014.
The company has disclosed $109m in funding since it was spun out of Medtronic in 2007, with Medtronic participating in a $17m series B round in 2009 led by Synergy Life Science that included Kleiner Perkins Caufield & Byers (KPCB) and US Venture Partners.
Medtronic, TGap Ventures, KPCB, US Venture Partners, Synergy Life Science and GDN Holdings provided $14.5m in a 2012 round that was followed by $40m in 2014 from Medtronic, Johnson & Johnson’s JJDC subsidiary, OrbiMed, KPCB, US Venture Partners, Synergy, GDN, TGap and Aperture Venture Partners.