Nyxoah S.A., a Mont-Saint-Guibert, Belgium-based medical device company focused on the development and commercialization of a hypoglossal nerve stimulation (HGNS) therapy for the treatment of Obstructive Sleep Apnea (OSA), raised an additional €15m ($17.1m USD) in equity financing.
The round was led by Cochlear Limited, an Australian medical device company (ASX: COH) and global leader in implantable hearing solutions, which invested €13m, with participation from existing shareholders. A representative of Cochlear has joined the Nyxoah Board.
The company intends to use the funds to initiate post-CE Mark European market development activities and to work toward Investigational Device Exemption (IDE) with the US Food and Drug Administration (FDA).
Co-founded in 2009 by Mr. Robert Taub and led by Enrique Vega, Chief Executive Officer, Nyxoah is a medical device company focused on the development of an innovative, neurostimulation-based therapy for patients suffering from Obstructive Sleep Apnea (OSA).
The company’s battery-free, leadless and minimally invasive neurostimulator, capable of delivering bilateral hypoglossal nerve stimulation for moderate to severe OSA patients who have failed conventional Positive Airway Pressure (PAP) therapy.
Nyxoah recently completed the BLAST-OSA (BiLAteral Hypoglossal Nerve Stimulation for Treatment of Obstructive Sleep Apnea) clinical study, an essential milestone for its CE marking dossier already submitted to the European regulatory body.