Medical technology company Signifier Medical Technologies revealed on Friday the completion of an oversubscribed Series B funding round led by The Pritzker Organization and includes participation from new investors as well as existing investors.

Following this round, Signifier Medical Technologies has raised a total in excess of USD13m since its founding in 2015.

The new funds will be used by Signifier to accelerate the rigorous data generation in on-going clinical trials of its innovative 'Snoozeal' neurostimulation device to address snoring and mild obstructive sleep apnoea (OSA) in the University College London, University of California - San Diego and New York Presbyterian – Cornell University; complete US FDA de novo filing approval process; and expand its product range, analytics capabilities and the team in key geographies.

Under the terms of the Series B round, Steffen Kastner, former managing director of Goldman Sachs, and Robert Sullivan, former CEO, COO and founder of Capital Holdings and the current regional president of Fifth Third Bancorp, will join the chairman Kieran Gallahue on Signifier's board.