NightBalance raises EUR 12.5 million to support the commercial roll-out of the Sleep Position Trainer in Europe and the U.S.
Supervisory Board and Management team strengthened with industry experts
Delft, the Netherlands – NightBalance BV, a leading innovator of obstructive sleep apnea (OSA) technology, today announced the completion of a EUR 12.5 million Series B financing round led by specialist investors Gilde Healthcare and INKEF Capital. The proceeds of the Series B financing allow NightBalance to expand commercial efforts for its innovative Sleep Position Trainer in Europe, and to prepare for the company’s entry into the U.S. market.
Pieter van der Meer from Gilde and Dirk Kersten from INKEF will join the supervisory board, which will be chaired by medtech industry veteran Jan Keltjens and further strengthened with the appointment of Geoff Waters, former President of Respironics’ International group. Furthermore the management team is enforced with John Lipman who joins from OSA company Apnicure Inc.- to prepare the access of the U.S. market.
“We are delighted to welcome Gilde and INKEF to our investor base, and to strengthen our board and management with seasoned industry executives Jan Keltjens, Geoff Waters and John Lipman” said Eline Vrijland-van Beest, founder and CEO of NightBalance. “In the EU and U.S. alone, an estimated 25 million people suffer from sleep apnea of which 80% goes undiagnosed or is not helped with current treatments; our mission is to change these lives. This financing will allow us to move full steam ahead and increase our market penetration in this billion dollar market.”
NightBalance is planning for further clinical studies in the U.S., guided by leading sleep specialist Prof. Dr. David P. White from Harvard Medical School.
NightBalance, founded in 2009 and based in Delft, the Netherlands, developed and markets the Sleep Position Trainer, a proprietary, highly advanced and easy to use device to prevent positional obstructive sleep apnea. CE-marked since 2012, the SPT is currently sold in 11 European countries. NightBalance’s wealth of clinical data supports the efficacy and ease of use of the SPT, and has demonstrated a substantial increase in patient compliance.
The SPT trains patients not to sleep on their back (supine) to prevent positional obstructive sleep apnea. Worn on the chest, the SPT constantly measures the sleep position, and gently nudges users to change position while leaving the natural sleep pattern unaffected. The SPT activates itself after 30 minutes, allowing patients to fall asleep in any position, and its smart hardware uses individually adjusted vibration strengths and patterns to assure sustained effectiveness. The SPT is prescribed by ear, nose and throat specialists or pulmonologists.
About Gilde Healthcare
Gilde Healthcare (Utrecht, The Netherlands and Cambridge, USA) is a European specialist investment firm focused on private healthcare companies. It has over €800 million ($900 million) under management and is actively looking to lead new investments in digital health, medical devices, therapeutics and healthcare services. Gilde successfully builds healthcare businesses across Europe and US, investing up to €30 million in a single portfolio company. For a list of Gilde’s portfolio companies please visit the website at www.gildehealthcare.com.