Medical device company Nyxoah announced today that it has received $20 million in Series B financing, led by Gilde Healthcare, and SRIW and all of the company's existing shareholders. In addition, Novallia also provides affiliate loans. This financing will be used to support Nyxoah's market entry strategy, including BLAST OSA International Research, CE MARK Approval, and US Food and Drug Administration (US FDA) approval process.
Founded in 2009, Nyxoah is headquartered in Belgium and is a medical device company specializing in the development of nerve stimulation therapy for patients with obstructive sleep apnea (OSA). Nyxoah argues that OSA patients should not be subject to clumsy medical devices and costly surgical procedures. The company believes that technology should provide people with the best quality of life and minimize patient discomfort. The innovation of Nyxoah technology is that the relevant equipment monitors the tongue and stimulates the muscles only when the patient's airway is blocked. The company is currently conducting a clinical trial to control airway obstruction with a tiny, battery-free, neurostimulator to control the tongue nerve. Nyxoah's medical devices have the triple benefit of low cost, ease of implantation, and low migration risk.
Nyxoah has announced that the new CEONnrique Vega will begin its work in September 2016. Mr. Vega has extensive senior management experience and has a proven track record in heart rate management, sleep apnea and neurostimulation.
Robert Taub, co-founder and CEO of Nyxoah, said: "Gilde Healthcare's expertise in medical technology and sleep will support our company's management team to achieve Nyxoah's goals and become a leader in OSA's diagnostics. Currently, only in Western countries. There are 5 million OSA patients who need treatment, but there is no gold standard treatment and effect. The patient's needs are not met, which is a big problem. Nyxoah will use bilateral nerve stimulation therapy to solve this problem."
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