Nyxoah Raises $20 Million for Sleep Apnea Therapy Launch
Medical device company Nyxoah has secured $20 million in financing, led by Gilde Healthcare. The funds will support the market launch of its neurostimulation-based therapy for obstructive sleep apnea (OSA) and regulatory approval processes.
Nyxoah, a medical device company developing a neurostimulation-based therapy for Obstructive Sleep Apnea (OSA), announced it has raised €18 million (approximately $20 million) in new funding. The financing round was led by Gilde Healthcare, with participation from SRIW and existing shareholders.
The capital infusion is earmarked for Nyxoah's go-to-market strategy. This includes progressing the BLAST OSA international study, obtaining CE Mark approval, and navigating the U.S. Food and Drug Administration (FDA) approval process. The company also announced the appointment of Enrique Vega as Chief Executive Officer, effective September 1, 2016. Vega brings extensive experience in cardiac rhythm management, sleep apnea, and neurostimulation fields.
Nyxoah's board has been strengthened with the addition of industry experts. The company is focused on bringing its Genio® system to market, which is designed as a minimally invasive implanted neurostimulator. The device aims to keep the upper airway open during sleep by stimulating the hypoglossal nerve.
Obstructive sleep apnea is a widespread sleep disorder affecting a significant portion of the global population. Current standard treatments include Continuous Positive Airway Pressure (CPAP) therapy. Nyxoah's therapy offers a different approach for patients who may not tolerate or benefit from existing methods.