Vivos Opens Third Funding Round in March 2018
Third Round of Funding Follows Two Previous Successful Rounds in 2017
DENVER (February 12, 2018) – Vivos Therapeutics, a world leader in the treatment of obstructive sleep apnea, announced today that the company will offer a third funding round for investors, with the opening date to be announced soon.
The Vivos System is a breakthrough technology and treatment for OSA and may be the first viable long-term solution to address a major root cause of the condition: an underdeveloped or obstructed airway. While the vast majority of OSA solutions treat the symptoms through either pressure or force, the Vivos appliance gently remodels the upper airway by gradually developing/repositioning the jaws, thus restoring healthy sleep and breathing. While other OSA treatment modalities, such as CPAP, require lifetime use and nightly wear, the Vivos System treatment typically lasts 12 to 24 months, and can allow some patients to avoid further clinical intervention.
The Vivos System is an all-natural, non-invasive, non-surgical, drug free treatment, featuring its patented DNA appliance® (currently a Class I medical device) and mRNA appliance® (a Class II medical device) as well as certain pediatric formation appliances that are also Class I medical devices. The Company’s mRNA appliance® was cleared by the United States Food and Drug Administration (FDA), for the treatment of mild to moderate sleep apnea on May 8, 2014.
“We know the Vivos System can dramatically change the course and impact of overall health for those suffering from sleep apnea,” said Kirk Huntsman, chief executive officer. “With our funding rounds, we will be able to positively impact even more OSA patients, ranging from young children to seniors.”
The first round of fundraising, which took place in late 2016 and finalized in 2017, was priced at $.50, and was quickly oversubscribed. The company’s second round of funding, priced at $1.50 per share, also sold out and was oversubscribed.
The announced third round will be for one million shares priced at $2.50 per share and will open in early to mid-March 2018, according to company management.
For more information about Vivos, please click here.
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