ResMed Jumps On Board As Nyxoah Raises €25m For Neurostim Apnea Device
The proceeds from the investment will enable Nyxoah to prepare for the IDE pivotal trial of the Genio system in the US, and accelerate market access and commercialization activities in Europe, Australia and New Zealand.
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Belgian firm will float on Euronext Brussels; ResMed and Cochlear among existing investors who will invest in at least 25% of shares.
With half or more of all diagnosed obstructive sleep apnea patients who need continuous positive airway pressure machines unwilling or unable to use these devices, there’s a large unmet need for an alternative treatment. Startups are rising to the challenge with neuromodulation platforms, a mouthguard-like suction device, a nasal device with microblowers, and a vibrating device that nudges patients to turn on their sides.
The market for devices to monitor and treat sleep apnea and its complications is set to grow by 7.3% annually in the next three years, with the US market expanding by 7.6% per year, according to the Meddevicetracker Dashboard.