Mosanna Therapeutics, a biotech company specialised in the treatment of obstructive sleep apnea (OSA), has secured $80M (approximately €70.1M) in Series A funding.
The financing was led by Pivotal bioVenture Partners and EQT Life Sciences, along with Forbion, Broadview Ventures, and Norwest as co-lead investors.
Returning investors included founding investor Forty51 Ventures as well as Supermoon Capital and High-Tech Gründerfonds (HTGF).
HTGF is an active early-stage investor in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences, and Chemistry.
Bonn-based HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds.
Across its funds, HTGF has over €2B under management. Since its inception in 2005, HTGF has financed over 770 start-ups and achieved nearly 200 successful exits.
Dr. Laura Pedroza, Senior Investment Manager at HTGF, says, “This is a great achievement by the Mosanna team! As investors since the seed round and in this Series A, we are excited to see MOS118 advance into the clinical stage. The simple mode of application via a nasal spray has the potential to drastically improve the life of patients suffering from sleep apnea.”
The new funding will support the advancement of MOS118 through Phase 2 development, while also supporting the expansion of Mosanna’s pipeline.
Appointed David Weber as the new CEO
Besides funding, Mosanna has also appointed veteran biotech leader David Weber, Ph.D., as President and Chief Executive Officer.
With more than 30 years of experience spanning drug development, capital formation, and corporate strategy, Dr. Weber has led teams across both public and private life sciences companies.
Dr. Weber was also appointed to Mosanna’s Board of Directors.
“Mosanna is taking a truly transformational approach to sleep apnea treatment – offering a non-invasive, non-mechanical solution designed to seamlessly fit into daily life,” says Dr. Weber.
“No one has sleep apnea while awake because our bodies instinctively keep the airway open. Mosanna simply helps to restore this natural reflex during sleep, delivering a nasal spray alternative to invasive mechanical workarounds. With this funding, we’re accelerating development to bring this groundbreaking treatment to patients who desperately need better options.”
Strengthening board
As part of the funding round, Dr. Stefano Begolo and Lee joined the Board of Directors alongside Dmitrij Hristodorov, Ph.D., General Partner at Forbion; Hewmun Lau, M.B.A., Principal at Broadview Ventures; and Tiba Aynechi, Ph.D., General Partner at Norwest.
They join existing board directors Sascha Oliver Bucher, M.B.A., CEFA, co-founder and Partner at Forty51 Ventures; and veteran biotech CEO Ben Machielse, who also serves as board chair.
What does Mosanna Therapeutics solve?
Obstructive Sleep Apnea (OSA) is the most common sleep disorder that affects around 1 billion people around the world.
If not treated, OSA can cause serious health problems like high blood pressure, heart disease, stroke, depression, and excessive tiredness during the day, leading to accidents at work and on the road.
Even though OSA is common, treatments mostly focus on machines that can be uncomfortable and disruptive.
Mosanna Therapeutics: Treating obstructive sleep apnea
Founded in 2022, Mosanna Therapeutics is a clinical-stage biotech company that is pioneering a novel pharmaceutical approach to treating obstructive sleep apnea (OSA) using an easily administered nasal spray.
Mosanna’s lead therapy, MOS118, is designed to help restore the body’s natural airway control during sleep.
This drug-based alternative to traditional mechanical treatments is currently being evaluated in a Phase 1 clinical trial.
MOS118 targets the upper airway muscles that are responsible for maintaining airway patency.
Currently, Mosanna has offices in Redwood City, California and Basel, Switzerland.
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