Obstructive sleep apnea pharmaceutical company Apnimed (APMD.US) applies to go public in the US to raise US$100 million

The Zhitong Finance App learned that Apnimed (APMD.US), a late-stage pharmaceutical company focused on developing oral treatments for sleep-related respiratory diseases, submitted an application to the US Securities and Exchange Commission (SEC) last Friday to raise up to 100 million US dollars through an initial public offering (IPO).

According to information, APNImed currently has only one clinical candidate, AD109 (Oxnimbi), which is a fixed-dose anti-asphyxiation neuromuscular modulator. It is a combination of a novel antimuscarinic drug and a selective norepinephrine reuptake inhibitor to treat obstructive sleep apnea. This drug aims to improve upper airway muscle activity and prevent airway collapse during sleep. Oxnimbi recently studied a total of 1,300 patients in multiple phase 3 clinical trials. Since then, the company has submitted a New Drug Marketing Application (NDA) in April 2026.

The Cambridge, Massachusetts company was founded in 2017 and achieved revenue of $120 million in the 12 months ending March 31, 2026. The company plans to list on NASDAQ under the stock symbol APMD. Apnimed submitted its listing application confidentially on July 1, 2024. Bank of America Securities, Evercore ISI, and Cantor Fitzgerald acted as joint bookkeepers for this offering. Pricing terms have not been disclosed.