Israel-based medical device company Ninox Medical secured $10m yesterday in a series B round co-led by Mérieux Développement, the quasi-corporate venturing arm of holding company Institut Mérieux.
Venture capital firm Pitango Venture Capital co-led the round, which also featured VC firm Xenia Venture Capital. Xenia previously invested NIS 2.5m ($650,000) in Ninox in 2012.
Ninox will use the funding to gain regulatory approval in the US and Europe for its KeePap device, a wearable positive airway pressure device developed to…