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OrbiMed leads $40m Series E for Inspire Medical Systems

16 May 2014

TMedical devices startup Inspire Medical Systems has raised $40m in a Series E round led by venture capital firm OrbiMed.

Other investors in the round included Johnson & Johnson Development Corp, Aperture Venture Partners, Kleiner Perkins Caufield & Byers, US Venture Partners, Synergy Life Science Partners, Medtronic, GDN Holdings and TGap Ventures.

The company said the round was timed to coincide with the commercial launch of the Inspire Upper Airway Stimulation therapy in the US.

Inspire therapy is available to patients at several centres in the US, and additional US-based clinical centres will have the therapy available in the second half of 2014.

OrbiMed private equity partner Chau Khuong said, “Inspire therapy fills an important and significant gap in the OSA treatment continuum.

“We believe that both physicians and patients will have great interest in this innovative new therapy.”

Earlier this month OrbiMed backed a $24m Series B financing round for cancer-focused biopharmaceutical business Loxo Oncology, which was led by New Enterprise Associates.

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