Weston, FL (July 30, 2013) — inSleep Technologies, LLC (“inSleep”) announced today it raised an undisclosed amount in Series A financing from a group of investors including Windham Ventures. Headquartered in Weston, FL, inSleep developed a medical device intended to effectively treat chronic simple snoring and sleep disordered breathing, offering the promise of a good night’s sleep to potentially millions of sufferers and their bed partners. Founded by Michael H. Gusky, the company’s Cloud9™ device will commence its clinical trial phase later this month on its regulatory path toward FDA clearance. Clear Capital Advisors served as exclusive financial advisor to inSleep.
Currently there are an estimated 80 million Americans suffering from Chronic Simple Snoring (CSS) and at least as many more throughout the world. inSleep Technologies expects to be the “first to market” with an effective snoring abatement device addressing this unmet world-wide demand.
For 30 years, industry focus has been on the treatment of a more serious condition known as Obstructive Sleep Apnea (OSA) using Continuous Positive Airway Pressure (CPAP). Positive air pressure opens the airway, acting as an air stent. Current CPAP devices are not engineered to treat simple snoring. The Cloud9™ device uses similar technology to eliminate snoring without CPAP’s characteristic noisy hardware and burdensome facemasks.
InSleep’s sleek Cloud9™ is the culmination of Gusky’s vision to bring to market a high performance, comfortable device, superior to the cumbersome CPAP machines Gusky has been tethered to most of his adult life.
“Our goal was to develop a device to abate snoring while improving the user experience,” explained Gusky. “Cloud9™ is comfortable, easy to use and attractive.”
According to Gusky, Cloud9™ combines a sleek ergonomic design with features and materials typically found in aspirational consumer products.
“This funding is an important step on the road to helping millions of snorers and their bed partners experience a good night’s sleep and all the inherent health and lifestyle benefits,” explained Gusky. “We are confident that the Cloud9™ system is differentiated from all other sleep disorder medical devices on the market today and we are excited to introduce it to the world.”
inSleep Technologies, LLC is an emerging company whose primary mission is to develop, manufacture, and distribute medical devices for the treatment of sleep disordered breathing. inSleep expects to offer products for the adult and pediatric markets as funding is available.
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Clear Capital Advisors is an investment advisory firm focused on providing mergers and acquisitions advisory and capital raising services to select business services, digital media, healthcare, and technology companies. Securities offered through Fallbrook Capital Securities Corp., Member FINRA – SIPC. For more information, visit www.ClearCapitalAdvisors.com.