EQT Life Sciences Leads $80M Series A for Mosanna's Sleep Apnea Spray

Obstructive sleep apnea (OSA) is a widespread sleep-related breathing disorder that affects approximately 1 billion individuals globally. Despite its prevalence, a significant number of cases remain undiagnosed, and current treatment options often leave patients underserved. In an innovative approach to addressing this issue, Mosanna Therapeutics, a clinical-stage biotech company based in Basel, Switzerland, is developing a novel nasal spray therapy to treat OSA. This therapy aims to restore the body’s natural airway control during sleep, marking a departure from traditional mechanical solutions.

EQT Life Sciences has announced an investment from its LSP 7 fund in Mosanna Therapeutics, supporting the advancement of their promising nasal spray, MOS118, through Phase 2 Clinical Trials. Alongside EQT Life Sciences, Pivotal bioVenture Partners led the financing, with Forbion, Broadview Ventures, and Norwest joining as co-lead investors. Returning investors included Forty51 Ventures, Supermoon Capital, and High-Tech Gründerfonds (HTGF). The financial backing is intended not only to propel MOS118’s development but also to expand Mosanna’s pipeline of treatments.

The appointment of Dr. David Weber as the Chief Executive Officer marks another strategic move for Mosanna. With over three decades of experience in drug development, capital formation, and corporate strategy, Dr. Weber is expected to bring valuable leadership to Mosanna as it navigates clinical development. His expertise extends across public and private life sciences companies, and he will also take a seat on Mosanna's Board of Directors.

The innovative treatment, MOS118, is designed to address OSA by targeting the upper airway muscles responsible for maintaining airway patency. Research indicates that in OSA patients, the natural reflex that keeps the airway open becomes less efficient during sleep, leading to apneas. Unlike conventional mechanical therapies, Mosanna’s nasal spray provides a pharmaceutical solution that is easy to use and aims to enhance patient adherence and outcomes.

Dr. Daniela Begolo, Managing Director at EQT Life Sciences, who will join Mosanna's Board of Directors, emphasized the potential of MOS118. "What sets Mosanna apart is its fundamentally different approach to sleep apnea, treating it as a neurological and muscular dysfunction rather than a purely mechanical issue," she stated. MOS118 is positioned as the first therapy with the potential to restore the body's natural airway reflex with the simplicity of a nasal spray, offering a non-invasive and non-mechanical solution that fits seamlessly into daily life.

The health risks associated with untreated OSA are significant, including hypertension, cardiovascular disease, stroke, depression, and excessive daytime sleepiness. These conditions can lead to increased workplace and car accidents, underscoring the need for effective treatment options. Mosanna’s approach could revolutionize sleep apnea therapy by providing a more convenient and less intrusive solution for patients.

Dr. Weber expressed his enthusiasm for Mosanna’s mission. "Mosanna is taking a truly transformational approach to sleep apnea treatment," he remarked, noting that the company’s nasal spray offers a groundbreaking alternative to invasive mechanical methods. He highlighted the natural reflex that maintains airway openness while awake, which Mosanna aims to replicate during sleep through its innovative spray.

With the newly acquired funding, Mosanna is set to accelerate the development of MOS118, bringing hope to millions of sleep apnea sufferers who are in dire need of improved treatment options. This advancement signifies a pivotal moment in the fight against OSA, offering a promising alternative to available therapies and potentially improving the quality of life for countless individuals worldwide.