Nyxoah, which makes a nerve stimulator implant for obstructive sleep apnea, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. The company is currently listed on the Euronext Brussels (NYXH) with a market cap of $617 million.
Nyxoah's lead product is the Genio system, a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for the treatment of moderate to severe obstructive sleep apnea. Obstructive sleep apnea is the most common sleep disordered breathing condition, affecting approximately 936 million people globally between the ages of 30 to 69, and is associated with increased mortality risk and comorbidities including cardiovascular diseases, depression and stroke. The company began generating revenue from the sale of Genio in Europe in July 2020 and is currently conducting a pivotal trial designed to support marketing authorization in the US.
The Mont-Saint-Guibert, Belgium-based company was founded in 2009 and plans to list on the Nasdaq under the symbol NYXH. Piper Sandler, Stifel, Cantor Fitzgerald, and Degroof Petercam are the joint bookrunners on the deal. No pricing terms were disclosed.
