EIB Invests €37.5 Million in Nyxoah’s Innovative Sleep Apnea Solutions

EIB Invests €37.5 Million in Nyxoah’s Innovative Sleep Apnea Solutions

(IN BRIEF) The European Investment Bank (EIB) has awarded Belgium-based medtech company Nyxoah €37.5 million in venture-debt financing to support the development of innovative treatments for obstructive sleep apnea (OSA). This funding, backed by the InvestEU Life Sciences programme, will be utilized for research, development, and scaling up manufacturing to meet European and U.S. demand. Nyxoah’s lead product, the Genio system, offers a patient-centered, leadless, and battery-free neurostimulation therapy for OSA. The financing is part of the EIB’s broader initiative to foster technological innovation and growth in the life sciences sector.

(PRESS RELEASE) LUXEMBOURG, 3-Jul-2024 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union announes that Belgium-based medtech company Nyxoah has secured €37.5 million in venture-debt financing from the EIB to advance its innovative solutions for treating obstructive sleep apnea (OSA). This funding will be directed towards research and development, as well as expanding manufacturing capacity to meet the growing demand in Europe and the United States. The financing agreement is supported by the InvestEU Life Sciences programme.

The EIB’s investment is part of its commitment to boosting research and technological innovation in alignment with EU policies. Nyxoah specializes in developing and commercializing advanced treatments for OSA, a prevalent sleep disorder linked to higher mortality risk and cardiovascular issues. Their leading product, the Genio system, is a patient-centered, leadless, and battery-free hypoglossal neurostimulation therapy for OSA.

Robert de Groot, EIB Vice-President, highlighted Belgium’s pioneering role in life sciences and medtech, expressing the EIB’s pride in supporting the sector. He praised Nyxoah’s groundbreaking approach and expressed enthusiasm for the company’s potential to benefit patients worldwide.

Olivier Taelman, CEO of Nyxoah, expressed gratitude for the EIB’s support, noting that the loan, coupled with a recent equity raise of €48.5 million, will facilitate the commercialization of the Genio system in the U.S. and Europe, increase production capacity, and sustain ongoing innovation.

The EIB’s €37.5 million facility is structured in three tranches: €10 million for the first tranche and €13.75 million each for the second and third tranches, with disbursement subject to specific conditions. This venture debt financing addresses the unique needs of fast-growing innovative companies like Nyxoah, benefiting from the InvestEU Life Sciences programme’s guarantee.

About Nyxoah

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please see the Company’s annual report for the financial year 2023 and visit http://www.nyxoah.com/.

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals (amounting to €2.1 billion for projects in Belgium in 2023). The EIB is very active in the life sciences sector, supporting the biotech ecosystem in Belgium (to which it has provided more than  €200 million in venture debt financing over the last six years). More information on www.eib.org and its dedicated venture debt page.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment. More information on InvestEU is available here.

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SOURCE: European Investment Bank

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