ProSomnus announced that it raised $38 million through a strategic investment from Catalio Capital Management. The company plans to use the funds to accelerate the global expansion of its technology-enabled sleep health platform.
San Francisco-based ProSomnus develops non-CPAP obstructive sleep apnea (OSA) therapy offerings. With the investment, it plans to advance the development of next-generation remote patient monitoring and proprietary sleep diagnostic devices.
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The company also earmarked funds for comparative clinical studies and scaling infrastructure. It hopes to meet the rising demand for patient-preferred OSA therapies.
Current OSA treatments on the market include CPAP machines made by the likes of leaders Resmed (and at one time Philips), while alternatives like neurostimulation from companies such as Inspire Medical and Nyxoah have also hit the market.
ProSomnus hopes to penetrate this market with its own alternative. Its intraoral medical devices precisely track the treatment plan and anatomy of each patient. The FDA-cleared, non-invasive mouthguard-like devices have the backing of a “growing body of clinical investigations,” ProSomnus says.
The latest funding adds to $10 million raised in 2023.
“Catalio’s investment affirms our mission to address the global public health burden of obstructive sleep apnea with precision, data‑driven medical solutions that create meaningful value loops for patients, clinicians, and payers,” Len Liptak, CEO of ProSomnus, said. “Demand for effective, economical, and patient‑preferred therapies continues to build. This partnership enables ProSomnus to expand access to care while advancing and scientifically validating our next generation sensor‑enabled medical devices. We appreciate Catalio’s partnership and look forward to accelerating the worldwide adoption of smart sleep medicine.”
