San Diego, February 12, 2015 /PRWeb/ — Sommetrics, formerly 5i Sciences, announced it has raised an additional $5.2 million in an expansion of its Series B financing. These funds will be used to further the development of the Company’s proprietary cNEP™ products for the treatment of sleep apnea and related conditions.
Sommetrics announced it has raised an additional $5.2 million from private investors in an extension of its Series B funding. This brings the total funds raised in the Series B Round to $7.7 million. “We plan to the use these funds to complete the design and testing of our core sleep products, and to actively explore options to distribute our products worldwide with an initial focus on the European market,” commented Sommetrics CEO, Dr. Richard Rose. He added, “The funds will also enable the company to strengthen its organizational capabilities by adding key executives to the management team.”
Avram Miller, Vice Chair of the Sommetrics Board of Directors further commented, “The raise signifies our commitment to delivering products which target the spectrum of sleep disturbances associated with obstruction of the upper airway. This financing moves us closer to making our cNEP™ products available to sufferers worldwide.”
Sommetrics is developing products and diagnostic tools for both assessing and managing sleep problems associated with Obstructive Sleep Effect (OSE). These problems range from obstructive sleep apnea to snoring, and sleep patterns that are not restful. Sommetrics’ proprietary technology, cNEP™ (Continuous Negative External Pressure), provides a comfortable way of keeping the airway open during sleep. For more information, visit www.Sommetrics.com.
Richard M. Rose, M.D.
President and CEO