Israeli-Belgium sleep disorder treatment company Nyxoah has raised €85 million ($100 million) in an initial public offering (IPO) earlier this month on the Euronext stock exchange in Europe. The money was raised at a company valuation of €362 million ($423 million) after money and since the IPO the share price has risen by 14% giving a company valuation of €413 million ($485 million).
The company was established in Israel in 2009 by Belgium Jewish businessman Robert Taub, founder of Israeli company Omrix Biopharmaceuticals, which was sold to Johnson & Johnson for $438 million in 2008. He serves as chairman. He also served as chairman and one of the major investors in Israeli central nervous systems drug development company Neuroderm, which was sold to Japan's Mitsubishi Tanabe for $1.1 billion in 2017.
Nyxoah is a medical device company focused on the development and commercialization of hypoglossal nerve stimulation (HGNS) therapy for the treatment of Obstructive Sleep Apnea (OSA). Founded in Israel, the company moved its financial, marketing and clinical trial activities to Belgium but retains its development center in Israel. The company intends to increase its Israel workforce from 38 to 50 with the new funds out of its total workforce of 85.
Nyxoah has received US Food and Drug Administration (FDA) and EU CE marketing approval as well as insurance indemnification for its device in Germany.
Published by Globes, Israel business news - en.globes.co.il - on September 29, 2020
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