SAN DIEGO--(BUSINESS WIRE)--Sommetrics, a company focused on providing innovative products and services that improve sleep quality, today announced that it has completed a Series B-1 Preferred Stock financing totaling $12.3 million from both new and current investors. The funds will be used to complete the development of the company’s product offerings and to obtain additional regulatory approvals.
Sommetrics’ mission is to improve sleep quality by focusing on common disorders caused by narrowing or closure of the upper airway, such as obstructive sleep apnea and snoring. “There is a great deal of attention on the amount of time spent sleeping,” said Dr. Richard Rose, Sommetrics’ president and CEO. “But, there is growing awareness that quality of sleep is important, too, and may be a key determinant of overall health. Our aer+™ technology product line is designed to address the need for effective and well-tolerated products that enhance sleep quality.”
“We’re pleased that both current investors and new investors support our mission,” said Avram Miller, Sommetrics’ vice chairman of the board of directors. “This round of financing is a vital step in our growth and the further commercialization of our innovative solutions to improve sleep quality for people worldwide.”
Sommetrics, a privately funded company based in San Diego, develops products and services aimed at enhancing health and well-being by improving sleep quality. The company’s proprietary aer± technology targets disorders related to the narrowing of the airway during sleep, such as obstructive sleep apnea and chronic snoring. Sommetrics has an FDA-cleared and CE-marked acute care product, which addresses airway narrowing commonly caused by mild to moderate sedation. For more about Sommetrics, visit www.sommetrics.com and follow the company on Twitter, Facebook and LinkedIn.