Participated · Equity · Mar 2022

Signifier develops and commercializes eXciteOSA, a daytime neuromuscular electrical stimulation (NMES) device that exercises tongue muscles to reduce airway collapse during sleep. eXciteOSA is the first commercially available device intended for use while awake and has been launched in the United States, Canada, the United Kingdom and Germany. The company positions its therapies to improve population health, patient experience and generate healthcare savings. Signifier was founded in 2015 and maintains offices in London (UK), Needham, Massachusetts (USA) and Berlin (Germany). Management cites successful commercial launches and positive patient outcomes as drivers of growth. The company says it is working to secure funding required to finance future growth. Signifier’s core product is eXciteOSA, an FDA-approved De Novo device that uses neuromuscular electrical stimulation (NMES) of tongue and pharyngeal muscles and is guided by a proprietary smartphone app. The device is used while awake, rests on the tongue, and aims to improve muscle tone, strength and endurance to prevent airway collapse. Signifier reports high adherence (>80%) and over 25,000 successfully completed daily therapies recorded through its app. The company raised $35 million in a Series D capital raise to underpin commercialization of eXciteOSA. Proceeds are earmarked for commercialization in core target markets, continued development of digital patient and physician interface platforms, generation of additional clinical data, and progressing reimbursement. Signifier was founded in 2015 and has offices in London, Needham (Massachusetts, USA) and Berlin. Signifier Medical Technologies is a medical technology company focused on non-invasive solutions for snoring and sleep disordered breathing. Its proprietary daytime genioglossal muscle‑neurostimulation therapy is commercialized as the eXciteOSA® device for mild obstructive sleep apnea, and it also markets the Snoozeal® device for primary snoring. The company is building operations and infrastructure to prepare for global commercialization of eXciteOSA while expanding commercialization of Snoozeal. Signifier is led by CEO and co‑founder Akhil Tripathi and COO Philip Hess, with Matt Sharris heading North American sales and Steve Saunders leading EMEA sales, and is based in Boston, US. It closed an approx. $10M Series C to support continued product development and commercial roll‑out. The funds will be used to invest further in its non‑invasive therapies and to accelerate the commercial phase of its development efforts. Signifier Medical Technologies, previously known as Snoozeal, is a London-based medical technology company focused on non-invasive solutions for snoring and sleep disordered breathing. Led by co-founder and Chief Medical Officer Prof. Anshul Sama, the company is developing the 'Snoozeal' neurostimulation device to address snoring and mild obstructive sleep apnoea (OSA). The company intends to use recent funding to accelerate data generation in ongoing clinical trials and to complete the FDA approval process, with a de novo filing anticipated in H2 2019. It also plans to expand its product range, including adding advanced analytics capabilities, and to grow its team to broaden commercial readiness in key geographies. Since its founding in 2015, Signifier has raised a total in excess of $13 million.