Nyxoah Raises $20 Million in New Financing
MONT-SAINT-GUIBERT, Belgium, July 7, 2016 /PRNewswire/ --
- Financing led by Gilde Healthcare will be used to bring the lead product to market
- Board will be strengthened with industry experts and Enrique Vega appointed as new CEO
Nyxoah S.A., a medical device company focused on developing a neurostimulation based, disruptive therapy for patients suffering from Obstructive Sleep Apnea (OSA), announced today it has raised €18 million ($20 million) in fresh capital.
The financing was led by Gilde Healthcare. SRIW and all existing shareholders also participated in the round. In addition, Novallia has provided a subordinated loan.
The proceeds will be used to finance Nyxoah's go-to-market strategy, including the BLAST OSA international study, CE Mark approval and the US FDA approval process.
The company is pleased to announce the appointment of Enrique Vega as Chief Executive Officer as of September 1st 2016. Mr. Vega is an experienced senior executive with a successful track record in the Cardiac Rhythm Management, Sleep Apnea and Neurostimulation fields. Nyxoah's board has been strengthened and is now composed of:
- Robert Taub (company co-founder) - Chairman,
- Janke Dittmer (Partner at Gilde Healthcare) - Vice-Chairman,
- Jürgen Hambrecht (former CEO of BASF) - Director,
- Don Deyo (former VP Neuromodulation R&D at Medtronic) - Independent Director and
- Kevin Rakin (experienced lifescience executive and investor) - Independent Director.
"Gilde Healthcare's domain expertise in medtech and sleep will support the management team to achieve Nyxoah's vision of becoming a leader in OSA therapy. In Western countries alone there are 5 million OSA patients who require treatment but have failed current gold standard therapy," said Robert Taub, Nyxoah co-founder and CEO "this large unmet need can be addressed by Nyxoah's bilateral neurostimulation therapy."
About Nyxoah
Nyxoah S.A. is medical device company, focused on developing and commercializing a disruptive neurostimulation based therapy for the treatment of Obstructive Sleep Apnea (OSA). Headquartered in Mont-Saint-Guibert, Nyxoah S.A. was co-founded in 2009 by Robert Taub.
The company has developed the first and only lead-free neurostimulator, capable of delivering bilateral hypoglossal nerve stimulation for moderate to severe OSA patients, who have failed conventional CPAP therapy. For more information, please visit www.nyxoah.com.
Caution – Investigational device, limited to investigational use.
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