Red Oak is working with an emerging-growth medical device company with two business operations focused diagnostics and developing a breakthrough therapy device for sleep apnea and marketing proprietary sensor technology for clinical sleep studies.
First, the Company’s sensor products detect airflow, snoring and limb movement during a clinical sleep study. The Company’s unique technology, based on Polyvinylidene Fluoride (PVDF), is compatible with all Polysomnograph (PSG) Diagnostic equipment on the market.
Second, the Company has developed a breakthrough sleep apnea therapy device. This neurostimulation device is:
- Has no mask or airflow generator;
- Uses existing sensor technology; and
- Therapy delivery prevents the occurrence of a sleep apnea event while not waking the patient
This therapy device can replace CPAP devices ($5 billion market) with a simpler, user-friendly device that is less costly. The doctors at Mayo Clinic and Harvard Medical conducted clinical trials using this groundbreaking technology, with very encouraging results.
Additional clinical trials are planned at several sleep centers under the supervision of prominent sleep doctors. The Company’s sleep apnea device will also treat central sleep apnea, for which there is no therapy at present.
The Company has entered into a 5-year Master Research Agreement with The Mayo Clinic and has licensed wireless transponder technology from Mayo.
The Company patent portfolio includes nine issues and twenty-six pending patents.
The Company is seeking financing to implement the next stage of its growth plan, including expanded sales & marketing efforts and final testing of its new sleep apnea therapy device.