Obstructive sleep apnea drug company Apnimed (APMD.US) applies for IPO in the US, aiming to raise $100 million.

Focused on the research and development of oral therapies for sleep-related breathing disorders, Apnimed (APMD.US), a late-stage pharmaceutical company, submitted an application to the U.S. Securities and Exchange Commission (SEC) last Friday, aiming to raise up to $100 million through an initial public offering (IPO). It is understood that Apnimed currently only has one clinical candidate drug, AD109 (Oxnimbi), which is a fixed-dose anti-asphyxia neuromuscular regulator composed of a novel anticholinergic drug and a selective norepinephrine reuptake inhibitor, used to treat obstructive sleep apnea. The drug is designed to improve upper airway muscle activity and prevent airway collapse during sleep. Oxnimbi has recently been studied in multiple Phase 3 clinical trials involving 1,300 patients, and the company submitted a New Drug Application (NDA) in April 2026. Founded in 2017 and headquartered in Cambridge, Massachusetts, the company achieved revenues of $120 million in the 12 months ending on March 31, 2026. The company plans to list on the Nasdaq under the ticker symbol APMD. Apnimed submitted its IPO application confidentially on July 1, 2024. Bank of America Securities, Evercore ISI, and Cantor Fitzgerald are acting as joint bookrunners for this offering. Pricing terms have not yet been disclosed.