Nyxoah S.A. (“Nyxoah” or the “Company”) a health-technology company focused on the development and commercialization of innovative solutions and services to treat sleep disordered breathing conditions, today announces its intention to raise new funds through an Initial Public Offering (“IPO”) with admission of all of its shares on the regulated market of Euronext Brussels (the “Offering”). Current shareholders have already expressed their commitment to subscribe for an aggregate amount of no less than €15 million in the Offering to the Nyxoah IPO.
Company Highlights
Olivier Taelman, Chief Executive Officer of Nyxoah, commented: “We are very excited to announce our intention to float on Euronext Brussels. Obstructive Sleep Apnea is an existing, large and fast-growing market, where neurostimulation has been embraced by the medical, patient and healthcare communities in Europe and in the US as a clinically proven therapeutic solution. Nyxoah has developed the unique neurostimulation solution, specifically designed with OSA patients in mind, being truly disruptive on the hypoglossal nerve stimulation market. Nyxoah’s flotation is expected to provide us with the financial resources to further develop compelling clinical evidence in Europe, ANZ and U.S. We will also invest in the development of the next Genio® generation and scale-up manufacturing in order to drive further commercial activities in our geographic focus areas.”
Robert Taub, Founder and Executive Chairman of Nyxoah, added: “We believe now is the right time to bring Nyxoah to the public markets in order to facilitate the next stage in the Company’s development. As a Belgian company with subsidiaries in Israel, Australia and U.S., a listing on Euronext Brussels makes strategic sense and can provide us with an excellent financial ecosystem to broaden our shareholder base and lay the foundation for future growth.”
About Obstructive Sleep Apnea
OSA is the world’s most common sleep disordered breathing condition. It makes a person stop breathing during sleep, while the airway repeatedly becomes partially (hypopnea) or totally (apnea) blocked, limiting the amount of air that reaches the lungs. OSA is a chronic condition that is associated with increased mortality risk and comorbidities, including cardiovascular diseases, diabetes, obesity, depression and stroke. The current standard of care consists of Continuous Positive Airway Pressure (CPAP) therapy, a treatment whereby air is pushed into the upper airway to keep it open.
Key advantages of the Genio® System
The Company believes that the Genio® system has the potential to have an improved therapeutic effect compared to other existing hypoglossal nerve stimulation therapies and other second-line OSA therapies, thanks to the following key benefits:
The Offering
The Offering is expected to consist of: (i) an initial public offering to retail and institutional investors in Belgium; (ii) a placement in the United States to persons that are reasonably believed to be qualified institutional buyers, as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”); and (iii) placements to certain qualified and/or institutional investors outside Belgium and the United States. The Offering outside the United States is expected to be made in compliance with Regulation S under the U.S. Securities Act.
Degroof Petercam NV/SA and Belfius Bank NV/SA are acting as Joint Global Coordinators and Joint Bookrunners in connection with the Offering.
Subject to the approval of the prospectus by the Belgian Financial Services and Markets Authority (“FSMA”) and market conditions, it is expected that the price range, as well as other details of the Offering will be published when the Offering period is expected to start. After its approval, the prospectus is expected to be made available at the Company’s registered office and on the websites of Nyxoah (www.nyxoah.com).
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For further information, please contact:
Nyxoah
Rémi Renard, VP Therapy Development and Education
remi.renard@nyxoah.com
+32 472 12 64 40
For media enquiries, please contact:
Consilium Strategic Communications
Amber Fennell, Ashley Tapp, Lindsey Neville, Taiana De Ruyck Soares
Nyxoah@consilium-comms.com
+44 (0)20 3709 5700
About Nyxoah
Nyxoah is a healthtech company focused on the development and commercialization of innovative solutions and services for sleep disordered breathing conditions. Nyxoah’s lead solution is the Genio® system, a CE-Mark validated, user-centered, next generation hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk3 and comorbidities including cardiovascular diseases, depression and stroke.
Following successful completion of the BLAST OSA study in patients with moderate to severe OSA, the Genio® system received its European CE Mark in March 2019. The Company is currently conducting the BETTER SLEEP study in Australia and New Zealand for therapy indication expansion, and a post-marketing EliSA study in Europe to confirm the long-term safety and efficacy of the Genio® system. In June 2020, the FDA has approved Nyxoah’s Investigational Device Exemption (IDE) application allowing Nyxoah to commence the pivotal DREAM study to support FDA approval in the U.S.
For more information, please visit www.nyxoah.com.