The company earmarked the new capital to optimize its core business operations and support its strategic growth initiatives. It aims to achieve cash flow breakeven with these efforts. Spring Mountain Capital and Cetus Capital led the financing. The company’s Executive Chair, CEO and CFO also participated.
Pleasanton, California-based ProSomnus develops an alternative to CPAPs for treating obstructive sleep apnea (OSA). Its intraoral medical devices precisely track the treatment plan and anatomy of each patient. The FDA-cleared, non-invasive mouthguard-like devices have the backing of a “growing body of clinical investigations,” ProSomnus says.
It may be an opportune time for companies developing alternatives to to CPAP machines as Philips continues working to resolve it…