Nyxoah raises €25 million in private funding round
Mont-Saint-Guibert, Belgium - 12 February 2020, Nyxoah S.A., a healthtech company developing neuromodulation-based therapeutic solutions for sleep disordered breathing conditions, today announced that it has raised €25 million in a private financing round. Completion of the financing round is subject to customary closing conditions and is expected to occur later this month.
ResMed Inc. (NYSE:RMD) (ASX:RMD), a world-leading digital health company in the fields of sleep apnea, COPD, and other chronic diseases, joined as a new shareholder.
Under the lead of Mr. Robert Taub, Nyxoah executive chairman, Cochlear Limited (ASX:COH) and several historical shareholders completed the €25 million financing round.
The proceeds will enable Nyxoah to further advance in developing long-term clinical evidence on the Genio system, prepare for the IDE pivotal trial in the United States and accelerate the ongoing market access and commercialisation activities in Europe, Australia and New Zealand.
Olivier Taelman, CEO of Nyxoah, commented: "We have an innovative approach to treating OSA. Having ResMed, the global leader in sleep apnea, support this significant funding round along with our existing shareholders will help Nyxoah to further accelerate its development."
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About Obstructive Sleep Apnea (OSA) and the Genio system
OSA is the world's most common sleep disorder, affecting almost one billion people globally1.
OSA makes a person stop breathing during sleep, while the airway repeatedly becomes partially (hypopnea) or totally (apnea) blocked, limiting the amount of air that reaches the lungs. OSA is a chronic condition that is associated with increased mortality risk and comorbidities, including cardiovascular diseases, type 2 diabetes, obesity, depression and stroke. The current standard of care consists of Positive Airway Pressure (PAP) therapy, a treatment whereby air is pushed into the upper airway to keep it open.
The Genio system is the world's first and only, battery-free, leadless and minimally invasive implanted neurostimulator designed to keep the upper airway open during sleep for certain people with OSA by bilateral stimulation of the hypoglossal nerve.
About Nyxoah
Nyxoah is a healthtech company focused on the development and commercialisation of innovative solutions and services for sleep disordered breathing conditions. Nyxoah's lead solution platform is based on the Genio system, a validated, user-centered, next generation hypoglossal neurostimulation therapy for OSA, the world's most common sleep disordered breathing condition that is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke.
Following successful completion of the BLAST OSA study in patients with moderate to severe OSA, the Genio system received its European CE Mark in March 2019. The Company is currently conducting the BETTER SLEEP study in Australia and New Zealand for therapy indication expansion, and a post-marketing EliSA study in Europe to confirm the long-term safety and efficacy of the Genio system. The IDE pivotal study to prepare for US market entrance is currently in discussion with the FDA.
For more information, please visit www.nyxoah.com.
Caution - CE marked since 2019. Investigational device in the United States. Limited by federal law to investigational use.
1 Benjafield, Adam V et al. Estimation of the global prevalence and burden of obstructive sleep apnoea: a literature-based analysis. Lancet Respir Med 2019 Published Online July 9, 2019 http://dx.doi.org/10.1016/S2213-2600(19)30198-5
