by • July 17, 2016 • 9s Comments
Oventus, an Australian company that designed a 3D printed device that stops sleep apnea can be listed on the Australian market at the present time after raising $12m. The funds of the listing can be utilized to finish commercialisation of the device and to sustain a global rollout.
Obstructive sleep apnea is a condition where the air passage in the throat becomes obstructed during sleep and causes individuals to stop breathing.
The founder of Oventus Chris Hart (who has put additional than $1 million of his own money into the business), suffers of sleep apnea and had failed to find anything that sustained his condition. A former dentist, Hart partnered with the CSIRO. Together they turned his initially device based on an idea made in his dental surgery, via saliva injector tubes, into a mouth-guard shaped device 3D printed with titanium.
“The initially time I trialled the device at home my wife idea I had died for the reason she mayn’t hear me snoring, so she poked me to manufacture certain I was yet alive,” Hart says.
Hart, who took on the role of clinical director at the company, says a US pilot commence of the device is planned for October.
He says the company’s commercialization plans were accelerated at the end of last year after it raised $4m of private investors. Hart says that for the reason of the pace Oventus was running at, it was a logical conclusion to do a market listing for its upcoming round of funding to raise worthwhilely additional money to allow it to execute its strategic plan.
“We have done a hell of a lot with not much money up to this point,” he says. “With the money we have raised (before listing) we have made a lot of progress and now we are quite running swift to enter the market as rapidly as we can.”
“Half of the sleep apnea market suffers of nasal related issues; they are patients we can treat unchallenged at this point in time, that is an unmet require worth billions of dollars globally,” Hart says.
As a sufferer of nasal congestion issues, Hart struggled with other appliances on the market on the market, such as Inspirate Medical’s 3D printed CPAP mask. So he made the O2Vent, that allows for air to flow through to the back of the throat and bypasses nasal and soft palate obstructions and preventing tongue obstructions.
“I saw the saliva injector tubes sitting there and idea if I can get a few air down the back of the throat and not have to struggle through my nose and mouth all night that can be a massive benefit,” he says.
“When I worked it out I knew it may be an idea that may turn it into worthwhile value. I walked out of the surgery and said to one of my staff, ‘look at this’, and joked it may be my pension fund.
“I knew it was a great idea, I knew it had legs, I knew I may turn it into a product and a business and it may turn it into a lot of value, but it has pretty gone well past my expectations.”
The O2Vent already is available for $1,700 AUD, with rebates on the market of private health incertainrs in Australia. This covers the cost of begin to finish: 3D scanning and printing a custom dimensionsd mouth-guard with hand made plastic moulds that fit your teeth.
You can read additional of Oventus here.
Inspirate Medical’s CPAP Masks
One other company, previously described Inspirate Medical, are in addition via additive making to sustain sleep apnea sufferers. The Singaporean based beginup are printing CPAP masks, customizing every patients’ to their face shape and dimensions. Around 50% of CPAP users stop via the masks due to poor fit, but as every mask can be printed to perfectly adapt to the facial contours of the user, this number can be expected to drop.
The company is already looking for around $1 million in investment to scale up production and sustain growth in the Singapore, Australian and European markets. At the moment their product looks to be on the market in Singapore in 2017. You can read additional of them here.
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