Ampimed, a Cambridge, MA-based clinical-stage pharmaceutical company, raised $79.75M in Series C extension funding.
The round was led by Alpha Wave Ventures with participation from Sectoral Asset Management, Columbia-Seligman Investments and Tao Capital Partners.Led by CEO Larry Miller, Apnimed is a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders, working to transform the treatment. Its development program targets the neurologic control of upper airway muscles to maintain an open airway during sleep.The financing will fund the planned Phase 3 trials for Apnimed’s lead candidate, AD109 (aroxybutynin + atomoxetine), that has the potential to be the first oral treatment for OSA. Enrollment for the clinical trials is expected to begin in the second quarter of 2023 subject to discussions with the U.S. Food and Drug Administration (FDA).AD109 combines Apnimed’s novel selective antimuscarinic (aroxybutynin) with a selective norepinephrine reuptake inhibitor (atomoxetine). It targets key neurological pathways in OSA that activate upper airway dilator muscles to maintain an open airway during sleep. AD109 has the potential to become a safe, effective, and convenient treatment for OSA, addressing some of the key limitations of current standard of care treatments that can be poorly tolerated (e.g., CPAP) and/or invasive (e.g., surgery or implanted devices).AD109 has been granted Fast Track designation by the FDA.04/01/2022
