NovaResp Technologies Inc is developing an artificial intelligence (AI)-enabled CPAP algorithm that will be compatible with any CPAP (including NovaResp’s in-development device) to predict apnea events during sleep. The Halifax, Nova Scotia, Canada-based company just raised $2.0 million in seed plus funding, led by Concrete Ventures with participation from Invest Nova Scotia, alongside several angel investors, many of whom were repeat investors.
The funding round will accelerate NovaResp’s product development and regulatory and precommercialization efforts as it prepares for a 2024 entry into the North American CPAP market.
NovaResp’s competitive advantage in the CPAP market will be its AI-enabled patented algorithm called “cMAP.” By predicting apneas, the company states that cMAP will prevent apneas from occurring, reduce therapy air pressure, improve adherence, lower device size, power consumption, and environmental waste, and overall offer personalized patient care.
“Early prediction of apnea events permits the use of a lower air pressure for patient intervention, which in turn contributes to greater patient comfort. Looking forward, this can also lead to dramatic reductions in the size, power consumption, and complexity of PAP machines,” says Hamed Hanafi, CEO of NovaResp, in a release. cMAP provides an opportunity to collect richer user information for data analytics and true personalized therapy. Ultimately, a better CPAP experience will lead to better user adherence and potentially improved health outcomes.”
NovaResp has developed cMAP based on tens of thousands of apneas collected from patients currently using CPAP machines. cMAP was then validated in a double-blind sleep lab study using current in-market CPAP machines at the QEII hospital in Halifax, Nova Scotia.
“Sleep apnea is a serious condition that affects millions of people, causing a variety of health issues if left untreated. NovaResp’s innovative technology is a true example of how AI-enabled technology can improve patient outcomes and revolutionize healthcare, by providing personalized, comfortable, and effective CPAP therapy,” says Patrick Hankinson, partner at Concrete Ventures, in a release.
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