SAN DIEGO--(BUSINESS WIRE)--Sommetrics, a company providing products and services to improve sleep quality, today announced that it has engaged Key West Investments to help raise additional capital. This capital will support the company’s development and commercialization of products to treat disorders of the upper airway such as obstructive sleep apnea and chronic snoring.
“Our mission is to improve the quality of sleep for people worldwide,” said Richard Rose, M.D., Sommetrics’ CEO and board chair. “Sommetrics has an opportunity to substantially disrupt the sleep industry with its patented technology and bring leading-edge therapy to those around the globe who suffer from breathing disorders such as sleep apnea. Partnering with Key West Investments is a vital step in raising the capital needed to carry out this mission.”
Key West Investments offers a wide range of financial and business advisory services for both public or private entities. Its services range from financial analysis, valuation and capital raising to IPO management and mergers and acquisitions.
“Interrupted sleep and snoring are major problems for so many people,” said Yvonne Yiu, Key West Investments’ president and CEO. “We look forward to helping them raise the necessary capital to turn this opportunity into a reality.”
Earlier this year, Sommetrics announced its sleep apnea therapy system, aerSleepTM, received Health Canada approval, allowing it to be marketed in Canada. aerSleepTM is the first device to use negative external air pressure to successfully treat obstructive sleep apnea, a disorder that affects more than 20 percent of adults worldwide. The global market for sleep apnea devices is an estimated $4.9 billion and is expected to reach $8.8 billion in 2023.1
Sommetrics also recently partnered with Smiths Medical to distribute its aerFree™ Airway Management System (AMS), the first FDA-cleared external negative pressure aid that maintains a patent upper airway during mild to moderate sedation. The launch has been initiated in select U.S. markets and a global launch will follow in 2018.
Sommetrics is a privately funded company located in San Diego. It is primarily focused on improving sleep quality by providing products and services that deal with disorders of the upper airway such as obstructive sleep apnea and snoring. In addition, the company has developed products that address sedation-related compromise of the upper airway during medical procedures. For more information, visit www.sommetrics.com and follow the company on Twitter, Facebook and LinkedIn.
About Key West Investments
With offices in Los Angeles and San Diego counties, Key West Investments is a FINRA/SEC/SIPC registered Broker-Dealer offering investment banking and brokerage services throughout Southern California.
1 Sleep Apnea Devices Market Size Worth $8.8 Billion by 2023: Global Market Insights, Inc. GlobeNewswire. https://globenewswire.com/news-release/2016/06/20/849771/0/en/Sleep-Apnea-Devices-Market-size-worth-8-8-Billion-by-2023-Global-Market-Insights-Inc.html