Capnia, Inc. develops medical diagnostics and therapeutics based on its technology for precision metering of gas flow. The Company�s first product, CoSense, aids in the diagnosis of hemolysis in neonates, a dangerous condition in which red blood cells degrade rapidly, which can lead to long-term developmental disability. CoSense combines a portable detection device with a single-use disposable nasal cannula to measure carbon monoxide (CO), in the portion of the exhaled breath that originates from the deepest portion of the lung, which is referred to as the end-tidal component of the breath. The Company has obtained CE Mark approval in the European Union for Serenz, an as-needed treatment of symptoms related to allergic rhinitis (AR). Its Serenz technology is based upon the observation that nasal, non-inhaled CO2 delivered at a low flow rate into the nasal cavity can alleviate the symptoms of AR.