SAN FRANCISCO, Jan. 11, 2021 /PRNewswire/ — Noctrix Health, Inc., a private medical device company, today announced it has completed a Series B financing of $17 million. The financing was co-led by Treo Ventures and OrbiMed, with participation from LivaNova PLC (NASDAQ: LIVN) and other insiders.
As part of this financing, Tracy Pappas (Treo Ventures) and Chau Khuong (OrbiMed) will be joining Shri Raghunathan, PhD, Mudit K. Jain, PhD, and Allan May on the Noctrix Health Board.
Noctrix Health was formed in 2018 with a mission to develop non-pharmaceutical treatments for Restless Legs Syndrome (RLS), after observing a large unmet need in this patient population as part of Stanford University’s Biodesign Program. RLS is the second largest sleep disorder in the world and impacts over 10% of the adult population in the US and is mainly treated using dopaminergic drugs. Patients report painful sensations of tingling and an urge to move their feet which particularly worsens during evenings and nights. Supported by a meaningful body of clinical evidence, Noctrix Health is developing an innovative neuromodulation-based approach to treat Restless Legs Syndrome (RLS) and has obtained a “Breakthrough Device Designation” from the United States Food & Drug Administration (FDA) to expeditiously advance its therapy through clinical evaluation and subsequent commercial launch.