Nyxoah Raises $20 Million in New Financing
Financing led by Gilde Healthcare will be used to bring the lead product to market
Board will be strengthened with industry experts and Enrique Vega appointed as new CEO Mont-Saint-Guibert, Belgium – July 7th, 2016 – Nyxoah S.A., a medical device company focused on developing a neurostimulation based, disruptive therapy for patients suffering from Obstructive Sleep Apnea (OSA), announced today it has raised €18 million ($20 million) in fresh capital.
Nyxoah S.A., a medical device company focused on developing a neurostimulation based, disruptive therapy for patients suffering from Obstructive Sleep Apnea (OSA), announced today it has raised €18 million ($20 million) in fresh capital.
The financing was led by Gilde Healthcare. SRIW and all existing shareholders also participated in the round. In addition, Novallia has provided a subordinated loan. The proceeds will be used to finance Nyxoah's go-to-market strategy, including the BLAST OSA international study, CE Mark approval and the US FDA approval process. The company is pleased to announce the appointment of Enrique Vega as Chief Executive Officer as of September 1st 2016. Mr. Vega is an experienced senior executive with a successful track record in the Cardiac Rhythm Management, Sleep Apnea and Neurostimulation fields. Nyxoah's board has been strengthened and is now composed of:
Robert Taub (company co-founder) - Chairman,
Janke Dittmer (Partner at Gilde Healthcare) - Vice-Chairman,
Jürgen Hambrecht (former CEO of BASF) - Director,
Don Deyo (former VP Neuromodulation R&D at Medtronic) - Independent Director and
Kevin Rakin (experienced lifescience executive and investor) - Independent Director.
“Gilde Healthcare’s domain expertise in medtech and sleep will support the management team to achieve Nyxoah’s vision of becoming a leader in OSA therapy. In Western countries alone there are 5 million OSA patients who require treatment but have failed current gold standard therapy,” said Robert Taub, Nyxoah co-founder and CEO “this large unmet need can be addressed by Nyxoah’s bilateral neurostimulation therapy.”
About Obstructive Sleep Apnea (OSA) and the Genio® system
OSA is the world’s most common sleep disordered breathing condition, affecting almost one billion people globally1. It 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 Continuous Positive Airway Pressure (CPAP) 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.
Nyxoah is a healthtech company focused on the development and commercialization of innovative solutions and services for sleep disordered breathing conditions. Nyxoah’s lead solution is 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 risk2 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.
For more information, please visit www.nyxoah.com.
Caution – CE marked since 2019. Investigational device in the United States. Limited by United States federal law to investigational use.
1.Benjafield, Adam V et al. Estimation of the global prevalence and burden of obstructive sleep apnea: a literature-based analysis. Lancet Respir Med 2019 Published Online July 9, 2019 http://dx.doi.org/10.1016/S2213-2600(19)30198-5
2 Young T. et al: Sleep Disordered Breathing and Mortality: Eighteen-Year Follow-up of the Wisconsin Sleep Cohort, Sleep. 2008 Aug 1; 31(8): 1071–1078.