ImThera Medical develops a novel implantable neurostimulation device that delivers muscle tone to key tongue muscles during sleep to open the upper airway and reduce or eliminate obstructive sleep apnea events. The company is led by Chairman, President and CEO Marcelo Lima. ImThera is pursuing CE Mark regulatory approval in the European Union and expects to initiate a pivotal clinical trial in the U.S. in the near future. Financially, the company is executing a Series C that includes an initial $4M investment from Cyberonics and the potential to expand that investment to $12M upon achievement of regulatory and clinical milestones. Cyberonics will be a minority shareholder and take a board seat. ImThera also plans to raise up to $4M from private investors, bringing the Series C to up to $16M.

Total raised

$4M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2011