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Cerêve Raises $38 Million to Fuel Launch of Insomnia Device in New Financing Led by KKR
Investment Will Fund Launch of FDA-cleared Device to Safely Treat Insomnia
OAKMONT, Pa.–(BUSINESS WIRE)–Jan. 5, 2017– Cerêve Inc., a privately-held health care company preparing to launch its FDA-cleared insomnia device, announced today the closing of a $38 million Series B round of financing led by KKR, a leading global investment firm. Also participating in the financing are existing shareholders Versant Ventures, Arboretum Ventures, and Partner Ventures.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170105005480/en/
Fifty-five million Americans have insomnia, not only experiencing problems getting to sleep but also serious impairment in their daytime activities. Currently, sleeping pills are the most common medical treatment for insomnia. According to the National Center for Health Statistics…
FDA Clears Sleep Device for Insomnia – System cools hyperactive frontal cortex
The FDA has granted commercial clearance for the Cerêve Sleep System, a prescription device that reduces latency to stage-1 and stage-2 sleep for people with insomnia.
Functional brain-imaging studies have shown that the frontal cortex, or executive brain, remains active in people with insomnia during sleep, preventing them from getting deeper, more-restorative sleep. The Cerêve Sleep System consists of a software-controlled bedside device that cools and pumps fluid to a forehead pad that is worn through the night. The pad cools the forehead within a clinically proven therapeutic range to reduce hyperactivity in the frontal cortex…
Pitt spinoff on insomnia: Cooler heads do prevail
Studies at the University of Pittsburgh found that the brains of patients with insomnia were overactive. Pitt had a patent for a technique to reduce brain metabolic activity using cooling, and Dr. Eric Nofzinger saw the potential.
The burgeoning business of sleep is awakening.
Nationally, the global sleep services market is expected to reach $8.4 billion by the end of 2021, according to Persistence Market Research. And as more people are seeking new ways to bolster the quality of their shut-eye, local companies are developing products to address everything from insomnia and sleep apnea to keeping special needs kids from getting injured at night. Here are their stories…
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