SomnoMed makes progress with new approvals, shareholder

Sleep apnea device manufacturer SomnoMed (ASX: SOM) is powering ahead following US approval for its latest sleep apnea device, and the arrival on the share register of a major new investor.

The Sydney-based manufacturer has received FDA approval for its new digitally-milled treatment product, SomnoDent Avant.

The approval is the high point of a digital manufacturing project that has improved precision, fit and quality.

SomnoMed CEO Neil Verdal-Austin said: “We have invested significant time and resources to ensure that our new digital manufacturing process will enhance amd improve the quality of products we produce.”

SomnoDent is a fitted device and is marketed as an alternative to CPAP machines used to treat snoring and obstructive sleep apnea. Nearly half a million have been sold worldwide.

A SomnoDent moves the lower jaw forward during sleep, relaxing the back of the throat and preventing the tongue from blocking the airway.

Late last week investment manager Fidelity announced it had spent $2.3 million to became a substantial holder with a 5.23 per cent stake.

Picture: SomnoDent

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