StimAire Secures Series A Funding to Advance Novel Neuromodulation Therapies and Wearable Devices for OSA and Neurological Disorders

On November 19, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company StimAire announced it had secured Series A financing led by UAVenture Capital Fund (UAVC). The specific amount of this round of financing was not disclosed.

StimAire plans to use the funds from this round of financing to develop breakthrough medical devices that will transform the treatment of obstructive sleep apnea (OSA). This financing round also paves the way for clinical trials of the company’s sub-millimeter neurostimulation device.

StimAire, founded in 2017 and headquartered in Arizona, USA, is a medical device company. The company has developed non-surgical directional nerve stimulation technology and wireless wearable devices to treat obstructive sleep apnea (OSA) and other neurological disorders. The Chief Medical Officer of StimAire is a clinical professor in the Departments of Neurosurgery and Radiation Oncology at the University of Arizona. Additionally, Sairam Parthasarathy, Director of Critical Care and Sleep Medicine at the University of Arizona, serves as the principal investigator for the company’s clinical programs.

Obstructive Sleep Apnea (OSA) occurs during sleep. During each episode, airflow through the patient's mouth and nose ceases for 10 seconds or longer, accompanied by a decrease in blood oxygen saturation. This condition can occur more than 30 times per night. Under normal physiological conditions, air flows unobstructed through the upper respiratory tract into the trachea and bronchi; obstruction of this airflow predisposes individuals to OSA episodes. Additionally, patients with OSA may also present with Central Sleep Apnea (CSA) and Mixed Sleep Apnea (MSA).

In recent years, various testing methods have continued to evolve, and comprehensive research on obstructive sleep apnea (OSA) has become increasingly in-depth. Clinical findings indicate that this disease is complex, highly prevalent, and difficult to cure. Currently, treatment options for OSA include conservative management and surgical intervention. Conservative management is further divided into pharmacological therapy and device-based therapy; however, no specific drug approved for the treatment of this condition is currently available on the market.

StimAire’s compact wearable and micro-injection devices offer an alternative to traditional neuromodulation therapies, eliminating the need for surgical implantation of neurostimulation devices. These devices significantly reduce the risk of surgery-related complications and lower healthcare costs. StimAire’s devices provide novel treatment options for conditions such as obstructive sleep apnea (OSA), epilepsy, Parkinson’s disease, and central and peripheral neuropathic pain.

Dr. Tarek Makansi, President and Chief Technology Officer of StimAire, stated, “StimAire is pleased to secure investment from UAVC. This round of financing will help us scale our operations and drive economic growth. Currently, we are developing new therapies that can reduce healthcare costs, benefiting millions of patients. Based at the University of Arizona, StimAire will recruit top-tier medical professionals, engineers, and scientists, and establish world-class sleep laboratories and clinical facilities.”

Fletcher J. McCusker, Founder and CEO of UAVC, stated, “The market for neurostimulation devices is valued at tens of billions of dollars, making this unique medical device one of the most significant innovations in today’s healthcare industry. Millions of patients with obstructive sleep apnea (OSA) are intolerant to therapies such as continuous positive airway pressure (CPAP) delivered via nasal interface. StimAire’s innovative solution helps patients prevent OSA episodes and improve their sleep quality.”

UAVC, established in 2012 and headquartered in Tucson, Arizona, is a financial services and venture capital firm. The company specializes in providing funding to the University of Arizona and its affiliated enterprises, including startups founded by faculty and students as well as spin-offs from the university. UAVC primarily focuses on early-stage investments, dedicated to transforming innovative research findings into applicable technologies and driving the commercialization of products, technologies, and services. Reportedly, this financing round marks UAVC’s 13th external investment.

(Compiled by Xu Xiaoxue)