NightBalance closes EUR 12.5 million Series B financing led by INKEF Capital
- Industry veteran Jan Keltjens to be appointed Chairman of the Board of Directors
- Geoffrey Waters, former President of Respironics International Group, Dirk Kersten of INKEF Capital, and Pieter van der Meer of Gilde Healthcare Partners to join Board of Directors
- John Lipman appointed COO US to head NightBalanceâs U.S. operations
Delft, the Netherlands, July 5, 2016 – NightBalance BV, a leading innovator of obstructive sleep apnea (OSA) technology, today announced the completion of a EUR 12.5 million Series B financing round led by INKEF Capital and Gilde Healthcare Partners. Dirk Kersten from INKEF, and Pieter van der Meer from Gilde will join the Board of Directors, which will be chaired by Jan Keltjens and further strengthened with the appointment of Geoff Waters.
The proceeds of the Series B financing allow NightBalance to intensify and expand commercial efforts for its innovative Sleep Position Trainer in Europe, and to prepare for the company’s entry into the U.S. market. NightBalance is planning for further clinical research in the U.S., guided by the leading sleep specialist Prof. Dr. David P. White from Harvard Medical School and former Chief Medical Officer for Philips Respironics. Also filing for U.S. Food and Drug Administration 510(k) clearance is being prepared.
“We are delighted to welcome INKEF and Gilde to our investor base, and to significantly strengthen our board and management with seasoned industry executives Jan Keltjens, Geoff Waters, and John Lipman” said Eline Vrijland-van Beest, founder and CEO of NightBalance. “In the EU and U.S. alone, an estimated 25 million people suffer from sleep apnea of which 80% goes undiagnosed or is not helped with current treatments; our mission is to change these lives. This financing will allow us to move full steam ahead and increase our market penetration in Europe’s billion dollar market, and -under the leadership of John Lipman who joins us from Apnicure Inc.- build the necessary infrastructure to access the U.S. market. We are committed to continue to generate solid clinical data demonstrating the benefits of the Sleep Position Trainer to support its further adoption by clinicians, patients, and payors.”
“NightBalance stands out in the emerging field of novel sleep apnea technologies with their continued commitment to generate high-quality and actionable clinical data sets underpinning the ease of use and efficacy of the Sleep Position Trainer,” said Jan Keltjens. “I look forward to working with Eline and her team as well as the Board to help navigate the company’s important next phase of growth and development.”
About INKEF Capital
INKEF is an Amsterdam, the Netherlands, based venture capital firm that is focused on the long-term collaboration and active support of innovative technology companies. INKEF was founded in 2010 by Dutch pension fund ABP and with €200 million under management it is one of the largest venture capital funds in the Netherlands. INKEF focuses on investment opportunities in Healthcare, Technology and IT/NewMedia and prefers to participate from series A round financing onwards. Dirk Kersten is a Managing Director at INKEF.
NightBalance, founded in 2009 and based in Delft, the Netherlands, developed and markets the Sleep Position Trainer, a proprietary, highly advanced and easy to use device to prevent positional obstructive sleep apnea. CE-marked since 2012, the SPT is currently sold in 11 European countries. NightBalance’s wealth of clinical data supports the efficacy and ease of use of the SPT, and has demonstrated a substantial increase in patient compliance.