Cochlear (ASX:COH) has invested $21 million in Belgium-based medical device company Nyxoah S.A.
Nyxoah is focused on the development and commercialization of a hypoglossal nerve stimulation (HGNS) therapy for the treatment of Obstructive Sleep Apnea (OSA).
"Cochlear actively monitors the market for novel technologies and implantable devices that over the long term may leverage or enhance its core technology. The Nyxoah investment forms part of Cochlear’s innovation fund," said the company in a statement.
A representative of Cochlear has joined the Nyxoah Board.
“We are extremely pleased to welcome Cochlear as a new investor. Their board-level participation will accelerate Nyxoah’s vision of becoming a leader in OSA therapy,” said Robert Taub, chairman of Nyxoah.
According to Jan Janssen, chief technology officer of Cochlear, “Cochlear actively monitors the market for novel technologies and implantable devices that over the long term may leverage its core business.
"Nyxoah’s minimally invasive solution presents an attractive alternative for patients with compliance or intolerance issues in respect of existing therapies. We look forward to working with Nyxoah.”
Nyxoah recently completed the BLAST-OSA (BiLAteral Hypoglossal Nerve Stimulation for Treatment of Obstructive Sleep Apnea) clinical study. It said the study is an essential milestone for its CE marking dossier already submitted to the European regulatory body.
“Patients from the BLAST OSA study show a major improvement in sleep apnea symptoms including a significant reduction of ODI (Oxygen Desaturation Index) and AHI (Apnea Hypopnea Index),” said Enrique Vega, CEO of Nyxoah.
“The Nyxoah therapy was also associated with high patient compliance and improvements in patient Quality of Life. We look forward to publishing the clinical results in a leading medical journal during 2019.”