COLLEGE PARK, Md. (PRWEB) December 20, 2021
The Verte OZ Fund, Inc. (College Park, Maryland) is pleased to announce an investment in Sonosa Medical, Inc. (Baltimore, Maryland). Sonosa Medical is developing next-generation devices poised to transform the diagnosis and treatment of obstructive sleep apnea (OSA). The investment will go towards expanding Sonosa’s experienced team and advancing Sonosa’s wearable ultrasound technologies towards market-ready solutions.
Founded in 2019, Sonosa Medical is developing a novel, non-invasive technology that can both locate the source of an airway obstruction during sleep and provide measures to maintain an open airway, allowing patients to sleep normally. The company is building a viable, scalable management pathway to replace the complex and inconvenient strategies that are currently failing nearly 20 million patients with OSA in the US. Their work is funded through an ongoing $3.2 million Phase II Small Business Innovation Research (SBIR) award from the Defense Advanced Research Projects Agency (DARPA).
“We are very excited to move Sonosa forward with this investment from the Verte OZ Fund,” stated Dr. Stephen Restaino, Chief Executive Officer of Sonosa Medical. “Our goal is to help OSA patients return to restorative sleep in fewer, more convenient steps, which is surprisingly difficult with the outdated technologies used today. Sonosa’s wearable ultrasound technologies represent a new paradigm for OSA management that can finally begin to address the scale and diversity of OSA cases. This investment will be critical in supporting Sonosa’s pre-clinical R&D into tangible solutions for OSA patients.”
“Verte OZ is pleased to add Sonosa Medical to our portfolio of businesses that promote sustainable development goals (SDGs),” said Dr. Leonard Mills, Chief Executive Officer of the Verte OZ Fund. “We look forward to participating in the potentially huge impact that Sonosa Medical’s technology can have on OSA.”
About Sonosa Medical, Inc.
Sonosa Medical is a seed-stage medical device company developing more effective and efficient tools for diagnosing and treating OSA. Sonosa is leveraging advances in ultrasound imaging and therapeutics to develop convenient, wearable solutions that improve the treatment of OSA. Sonosa was founded in the MDC Studio (a Baltimore-based startup studio) alongside physician inventors from the University of Maryland. Sonosa is located in Baltimore, Maryland, in a Qualified Opportunity Zone in Baltimore City.
About Verte OZ Fund, Inc.
The Verte OZ Fund is a venture capital fund combined with the tax benefits of Opportunity Zone (OZ) investments. Verte OZ has a current portfolio of 11 high-growth, qualified OZ businesses. Due to the higher-growth potential in venture capital, a VC-OZ strategy leads to higher expected returns and exit multiples, greater capital gains tax savings, increased diversification, and a larger impact compared to a real estate OZ strategy. Verte OZ’s specific investment strategy is manifested in the high-growth companies in which it has already invested. These companies’ industries include robotics, data storage, electric vehicles, medical devices, logistics, software, and other technologies. The objectives of the Verte OZ Fund are to provide attractive returns for investors, generate measurable economic impact on OZ communities, and support our portfolio companies in capital raising, strategic advice, and business development.