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November 13, 2018updated 20 Nov 2018 12:41pm

Neurostimulation device developer Nyxoah secures new funding

Belgian medical device company Nyxoah has secured new funding during an equity round led by Australia-based hearing implants developer Cochlear.

Belgian medical device company Nyxoah has secured new funding during an equity round led by Australia-based hearing implants developer Cochlear.

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Of the total €15m financing raised, Cochlear contributed €13m. Nyxoah’s existing shareholders also joined the equity round.

Nyxoah primarily focuses on the development and commercialisation of hypoglossal nerve stimulation (HGNS) therapy to treat obstructive sleep apnoea (OSA).

“The company plans to use the new funds to support post-CE Mark development activities in Europe, as well as for seeking investigational device exemption from the US Food and Drug Administration.”

The company’s Genio Implantable Stimulator is a tiny neurostimulator designed for electrical stimulation of the tongue nerve. The device can be implanted by a minimally invasive procedure.

Genio is accompanied by an activation chip linked to a disposable patch, which is to be placed under the patient’s chin every night for wireless activation of the implanted neurostimulator.

Cochlear chief technology officer Jan Janssen said: “Cochlear actively monitors the market for novel technologies and implantable devices that over the long term may leverage its core business.

“Nyxoah’s minimally invasive solution presents an attractive alternative for patients with compliance or intolerance issues in respect of existing therapies.”

Nyxoah submitted results from the recently completed BiLAteral Hypoglossal Nerve Stimulation for Treatment of Obstructive Sleep Apnea (BLAST-OSA) clinical study to the European regulatory body.

The company plans to use the new funds to support post-CE Mark development activities in Europe, as well as for seeking investigational device exemption (IDE) from the US Food and Drug Administration (FDA).

Nyxoah CEO Enrique Vega said: “Patients from the BLAST OSA study show a major improvement in sleep apnea symptoms including a significant reduction of ODI (Oxygen Desaturation Index) and AHI (Apnea Hypopnea Index).

“The Nyxoah therapy was also associated with high patient compliance and improvements in patient Quality of Life. We look forward to publishing the clinical results in a leading medical journal during 2019.”

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What’s missing from your IPO industry assessment?

IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
  • Macroeconomic and demographic environment
  • Consumer context
  • Industry environment
  • Competitive environment
  • Route to market
Interested to learn more about what to include in your IPO Industry Assessment report? Download our free whitepaper.
by GlobalData
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