Mosanna Therapeutics secures $80m for OSA nasal spray development

Mosanna Therapeutics has successfully raised $80 million in a Series A funding round, which aims to propel the development of an innovative nasal spray designed to treat obstructive sleep apnoea (OSA). This cutting-edge treatment, named MOS118, is crafted to offer an uncomplicated solution to OSA by enhancing the body's natural mechanism for keeping airways open.

The financial backing was led by Pivotal bioVenture Partners and EQT Life Sciences, with additional leadership from Forbion, Broadview Ventures, and Norwest. Previous investors such as Supermoon Capital and High-Tech Gründerfonds (HTGF) also participated, alongside founding investor Forty51 Ventures.

Daniela Begolo, managing director at EQT Life Sciences, highlighted the unique approach Mosanna Therapeutics takes in treating sleep apnoea. Rather than viewing it solely as a mechanical problem, Mosanna's method considers OSA a neurological and muscular issue. MOS118, the nasal spray under development, aims to restore the body's natural airway reflex functions. This non-invasive treatment could significantly improve patient adherence and outcomes, marking a shift from traditional mechanical therapies that often cause discomfort.

Obstructive sleep apnoea impacts around one billion people globally and poses serious health risks, including hypertension and cardiovascular diseases. Existing treatments generally involve mechanical interventions, which many patients find uncomfortable and difficult to maintain consistently. Mosanna's MOS118 spray intends to alleviate these problems by working on the upper airway muscles to ensure they remain open during sleep.

The capital raised will facilitate the progress of MOS118 through its Phase II development, while also allowing Mosanna Therapeutics to broaden its range of products. To steer the company through this pivotal phase, Mosanna has appointed Dr. David Weber as the president and CEO. Dr. Weber's extensive background in biotech innovation and patient-centered therapies makes him a suitable choice to lead the company forward.

Jeni Lee, a partner at Pivotal bioVenture, expressed confidence in Dr. Weber's leadership, emphasizing the shared vision to bring this groundbreaking sleep apnoea treatment to fruition. The team at Mosanna is eager to work under his guidance to make significant strides in addressing the needs of patients who have been underserved by existing treatments.

In summary, Mosanna Therapeutics' recent funding success is a promising development in the realm of obstructive sleep apnoea treatments. With MOS118, the company is offering a novel, user-friendly alternative that could transform how this common yet challenging condition is managed. By addressing the root neurological and muscular issues, the nasal spray holds the potential to significantly enhance the quality of life for those affected by sleep apnoea. As the company moves forward, the focus will be on clinical development and expanding its therapeutic portfolio under the new leadership of Dr. David Weber.