Troutman Pepper represented Apnimed, a clinical-stage pharmaceutical company focused on developing oral pharmacologic treatments to address obstructive sleep apnea (OSA) and related disorders, in securing $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. Read a company press release about the financing.
Apnimed is 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.
The Troutman Pepper team advising Apnimed in this latest financing includes Chris Miller, Dan Sieck, Joe Goldman, and Marian Lemont.
Apnimed has been a member of Troutman Pepper’s Startup and Early-Stage Entrepreneurial Development (SEED) Program since the company’s inception. The program combines the resources of an experienced, multidisciplinary team into an affordable package for startups, early-stage, and fast-growing companies. Clients receive legal counsel, mentoring, relationship-building opportunities, and more.