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Apnex Medical, a med-tech startup that had raised more than $50 million in venture capital, has shut down after early results of a clinical trial proved disappointing. The Roseville-based company was developing an implantable device for treating obstructive sleep apnea. Apnex officials decided to close down the business after it became clear the company was unlikely to meet a primary endpoint in a key clinical trial, co-founder Michael Berman said in an interview with the Business Journal.
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