UAVenture Capital Fund II has backed University of Arizona spinout StimAire, which is working on neuromodulation-based treatments for conditions including obstructive sleep apnoea.
StimAire, a US-based sleep apnoea treatment developer spun out of University of Arizona, raised an undisclosed amount from UA-focused investment fund UAVenture Capital Fund yesterday.
UAVenture Capital Fund typically invests about $2m per deal in UA-linked businesses but is managed independently from the university. The cash was provided out of its second fund.
Founded in 2017, StimAire is working on a neurostimulation device for patients living with obstructive sleep apnoea, where breathing is disrupted during sleep by the throat muscles relaxing periodically and causing an obstruction in their airways.
StimAire’s device would be applied through a minor injection, in the hope of supplanting existing neuromodulation implants requiring major surgery. It could potentially be adapted for additional indications including epilepsy, bladder control and Parkinson’s disease.
The spinout’s chief medical officer is Abhay Sanan, a clinical assistant professor at University of Arizona’s division of neurosurgery and department of radiation…
