Obstructive Sleep Apnea affects a quarter of the adult population. Sleep physicians almost always prescribe Continuous Positive Airway Pressure (CPAP) therapy to treat the disease, however, compliance rates are low. Oral Appliance Therapy (OAT) has much higher compliance rate but only works in 60 per cent of cases and therefore not prescribed by Sleep Physicians because a prescriptive test is required.
Calgary-based Zephyr Sleep Technologies
has created a sophisticated test (MATRx) that determines when OAT will work, how effective it will be and exactly how a medical professional needs to configure the oral appliance to ensure success. The test opens the way to effectively treating more patients at lower cost.
CCR invested in Zephyr Sleep Technologies through the Facilitated Access to Capital program, enabling the company to solidify a management team and research complementary devices. IRAP, Alberta Innovates, BioAlberta, and Biovantage have also supported the company which has since attracted over $2 million in follow-on investment.
Zephyr Sleep Technologies recently received FDA clearance and is currently shipping MATRx into the U.S., with plans for a Canadian release in 2013. The company plans to launch in Europe by mid-2013.
“CCR was very flexible, very accommodating in figuring out a way to structure the investment so we were well-positioned to raise other capital. Kudos to CCR for really understanding the capital market and applying ‘real-world’ experience and flexibility” —Paul Cataford, Co-founder and CEO, Zephyr Sleep Technologies
Return on Innovation
- Paul Cataford, Co-founder and CEO, Zephyr Sleep Technologies
- Plans to hire 10 more in three to five years
- Results in significant savings to Canadian healthcare system
OCE©2012 Last updated 10/2012