XII Medical
Overview
XII Medical is a clinical-stage medical technology company specializing in the development of minimally invasive treatments for obstructive sleep apnea. Founded in 2017, the company is based in Union City, California. It was established by Francis Papay, MD. As of 2024, XII Medical has raised a total of $82.6 million in funding. The company is known for its innovative neuromodulation therapy aimed at improving the quality of life for patients suffering from obstructive sleep apnea.
Recent Developments
- September 2024: XII Medical successfully completed a $45 million Series B equity financing round. The round was led by Omega Funds, with participation from new investor Intuitive Ventures. The funds raised are intended to accelerate the development and clinical trials of their neuromodulation therapy for obstructive sleep apnea. Existing investors like Cleveland Clinic and Ajax Health also participated in this round.
- August 2024: The company announced its continued focus on advancing its state-of-the-art neuromodulation therapy, which addresses patient compliance issues with a more streamlined, minimally invasive approach compared to current solutions.
- Early 2024: XII Medical expanded its clinical trials and research initiatives, strengthening its presence in the therapeutic devices industry. The company remained focused on addressing the global issues of untreated and undertreated obstructive sleep apnea, which affects an estimated 425 million individuals worldwide.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Union City, California, USA |
| Founders | Francis Papay, MD |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Omega Funds, Intuitive Ventures, Ajax Health |
| Industry | Therapeutic Devices |
| Number of Employees | 27 (as of 2024) |
Early History
XII Medical was founded in 2017 by Francis Papay, MD, a renowned expert in the field of medical technology for obstructive sleep apnea. The company emerged with a mission to transform the treatment landscape for obstructive sleep apnea through advanced neuromodulation techniques. In its early days, XII Medical focused on developing technology that would facilitate patient compliance and offer a less burdensome treatment option compared to traditional methods. By 2018, the company was actively conducting research and seeking initial funding to bring its innovative solutions to market.
Company Profile and Achievements
XII Medical operates with a forward-thinking business model, emphasizing the development of minimally invasive medical technologies. The company's primary achievement is its neuromodulation therapy designed to treat obstructive sleep apnea.
Significant milestones include:
- Initial Funding and Growth: Secured initial funding through a grant in December 2017 and advanced to Series A funding in 2022 with $22.6 million raised.
- Series B Funding: In August 2024, raised $45 million in Series B financing to further product development and clinical trials.
- Technological Innovation: Developed a novel neuromodulation platform that simplifies treatment processes and enhances patient outcomes by avoiding airway blockages during sleep.
- Strategic Partnerships: Collaborated with leading investors and healthcare institutions, including Cleveland Clinic and Intuitive Ventures, to expand research and clinical capabilities.
Current Operations and Market Position
XII Medical is currently focused on advancing its groundbreaking therapy for obstructive sleep apnea. The company holds a competitive position in the therapeutic devices industry due to its patient-centric technology and minimally invasive treatment approach. With recent financial backing, XII Medical is poised to increase its market share by expanding clinical trials and enhancing product development.
Conclusion
XII Medical is making significant strides in the healthcare industry, particularly in the treatment of obstructive sleep apnea. With its innovative neuromodulation therapy, the company addresses significant patient needs and compliance issues. The company's continuous efforts in research and development, supported by substantial financial backing, position it for future growth. As it progresses, XII Medical has the potential to substantially impact the therapeutic devices industry, offering hope for improved patient outcomes and expanded treatment access.