Nyxoah has raised €25 million (nearly $28 million) in its latest fundraising round, with CPAP maker ResMed (NYSE:RMD) joining as a new shareholder.
Nyxoah is a Mont-Saint-Guibert, Belgium–based company with a battery-free, leadless and minimally invasive neurostimulator to treat obstructive sleep apnea. It gained a CE Mark for its Genio system last year.
Cochlear (ASX:COH) and several other existing investors also participated in the latest fundraising round.
Nyxoah officials plan to spend the money on developing long-term clinical evidence on the Genio system, preparing for the company’s IDE pivotal trial in the United States, and accelerating ongoing commercialization activities in Europe, Australia and New Zealand.
“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,” Nyxoah CEO Olivier Taelman said in a news release yesterday.
