Apnimed Completes Oversubscribed $79.75 Million Series C Extension Financing To Fund Two Planned Phase 3 Trials Of Ad109, An Oral Medication With The Potential To Be The First Therapy For Direct Treatment Of Obstructive Sleep Apnea (Osa)

Jan 03, 2023•over 2 years ago

Amount Raised

$79.8 Million

Round Type

series c

CambridgeManufacturing

Description

Apnimed, Inc., a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders, announced today that it has secured $79.75 million in an oversubscribed financing round that extends its Series C financing to a total of $142.25 million. The financing was led by existing investor Alpha Wave Ventures and included existing investors Sectoral Asset Management, Columbia-Seligman Investments and Tao Capital Partners, among others.

Company Information

Company

Apnimed

Location

39 JOHN F. KENNEDY STREET, 4TH FLR.

Cambridge, Massachusetts, United States

About

Apnimed is a clinical-stage pharmaceutical company working to transform the treatment of sleep apnea based on a simple idea – patients with obstructive sleep apnea could benefit from treatment with a safe and effective oral medication dosed once daily at bedtime. Apnimed’s lead development program targets the neurologic control of upper airway muscles to maintain an open airway during sleep. Based in Cambridge, Mass., the company is developing a portfolio of novel pharmacologic therapies for sleep apnea and related disorders.

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