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Highlights:
- Nyxoah raises $27 million through the sale of 3.0 million shares, enhancing its financial position for U.S. market entry.
- The company’s Genio® device offers a novel, battery-free solution for treating obstructive sleep apnea through neuromodulation.
- Positive data from the DREAM pivotal study underscores Nyxoah's commitment to innovation and effective treatment options for OSA.
Nyxoah SA (Euronext Brussels/Nasdaq: NYXH), a pioneering medical technology company focused on developing innovative treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation, has successfully raised $27 million in gross proceeds by selling 3.0 million shares as part of its $50 million at-the-market (ATM) offering. This transaction was executed at market prices on the Nasdaq Global Market and was primarily directed to a single U.S.-based healthcare investor, signaling strong interest in Nyxoah's mission and product offerings. Cantor Fitzgerald & Co. is serving as the sales agent for this ATM offering.
The shares sold were registered under the company’s shelf registration statement on Form F-3, which was filed with the Securities and Exchange Commission (SEC) in December 2022 and became effective in January 2023. This framework allows Nyxoah to efficiently raise capital as needed, providing flexibility to respond to market conditions and business needs. For those interested, copies of the prospectus supplement and accompanying prospectus related to the ATM offering can be obtained from Cantor Fitzgerald & Co. or via the SEC’s website.
Olivier Taelman, Chief Executive Officer of Nyxoah, expressed optimism about this financial boost, stating, “After relocating to the United States with my family this past summer, this investment reinforces our United States focus, builds on our compelling DREAM pivotal study data presented at the International Surgical Sleep Society (ISSS) congress, and strengthens our financial position, providing additional opportunities as we are preparing for the launch of Genio® in the United States.”
Nyxoah is making significant strides in addressing the needs of the approximately one billion people worldwide who suffer from OSA. The company’s flagship product, Genio®, is a groundbreaking battery-free hypoglossal neuromodulation device designed to treat OSA effectively. Unlike traditional CPAP (Continuous Positive Airway Pressure) devices, Genio® is inserted through a single incision under the chin, offering a less invasive alternative. The device is controlled by a wearable, providing a patient-friendly option for managing this condition.
The DREAM pivotal study data presented at the ISSS congress has showcased the efficacy and safety of Genio®, further establishing Nyxoah as a leader in the neuromodulation space for OSA treatment. With this new capital, Nyxoah aims to enhance its research and development initiatives, accelerate its go-to-market strategy, and ensure a successful launch of Genio® in the United States.
The focus on the U.S. market is crucial, as it represents a significant opportunity for growth given the high prevalence of OSA and the demand for effective treatment solutions. Nyxoah's commitment to innovation and clinical evidence is positioning the company to capture a substantial share of this market.
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