Mont-Saint-Guibert, Belgium-based Nyxoah said it decided to make a transition at the top to further support its U.S. commercial traction.
The company develops the Genio hypoglossal nerve stimulation implant for treating obstructive sleep apnea (OSA). Genio utilizes an implanted electrode around the hypoglossal nerve. It stimulates the tongue and keeping the airway open to treat obstructive sleep apnea (OSA). Nyxoah directly competes with Inspire Medical in the sleep respiratory market with their CPAP alternatives.
Genio received FDA in August, pitting it directly against the Inspire devices. Unlike Inspire’s system, it doesn’t require leads, with a wearable providing power for the electrode through the skin. The two companies remain embroiled in a patent spat over their technologies as well. Nyxoah further bolstered its U.S. commercial efforts last fall with Medicare reimbursement as well.
After seven years leading Nyxoah as CEO, Olivier Taelman will hand over the reins ahead of this commercial expansion. The company said Taelmen came to the decision with the board of directors as it enters its next phase of growth.
Nyxoah’s board has formally launched a search process to appoint a new U.S.-based CEO. Taelman plans to remain engaged during the transition period, leading operations and supporting a smooth onboarding and transition.
Commentary from Nyxoah leadership
Taelman said:
“Leading Nyxoah over the past seven years has been one of the most rewarding journeys of my professional career. Together with an exceptional team, we transformed Nyxoah from an early-stage clinical company into a global commercial medical technology platform with FDA PMA approval, successful IPOs on Euronext Brussels and Nasdaq, and a promising early commercial launch of Genio in the United States.”
Nyxoah Chair Robert Taub added:
“We appreciate Olivier Taelman’s outstanding contributions. The combination of strengthened financial resources, accelerating U.S. commercial momentum and a U.S.-focused leadership structure will position Nyxoah well for its next phase of growth in the rapidly expanding OSA market.”
