Apnimed secures funding for OSA treatment
By HME News Staff
Updated 10:43 AM CDT, Thu May 5, 2022
CAMBRIDGE, Mass. – Apnimed, a clinical-stage pharmaceutical company focused on developing oral pharmacologic treatments to address obstructive sleep apnea and related disorders, has raised $62.5 million of committed capital in a Series C financing led by new investor Sectoral Asset Management. “Patients with obstructive sleep apnea are in need of new pharmaceutical treatment options to manage this serious, life-altering, and life-threatening disease,” said Larry Miller, M.D., CEO of Apnimed. “We’re pleased to have assembled this well-respected and committed group of investors as we seek to change the treatment paradigm for OSA and related sleep disorders.” Also participating were Alpha Wave Ventures, NexPoint, and others, joining existing investors Morningside Ventures, Seligman Investments and Tao Capital Partners. The proceeds will support Apnimed’s plans to advance its lead program, AD109, into Phase 3 development. The company will also strategically grow the team to support further program development and initial commercial plans.
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