Mosanna Therapeutics, a biotech company rethinking the treatment of obstructive sleep apnea (OSA), announced the closing of $80 million 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. The returning investors included founding investor Forty51 Ventures, as well as Supermoon Capital and High-Tech Gründerfonds (HTGF).
The pitch: The company is developing an easy-to-use nighttime nasal spray to treat obstructive sleep apnea that will help restore the body’s natural airway control.
OSA: OSA is the most common sleep-related breathing disorder, affecting about 1 billion people. If left untreated, OSA is linked to serious health risks, including hypertension, cardiovascular disease, stroke, depression, and excessive daytime sleepiness, contributing to workplace and car accidents. Despite OSA’s prevalence, treatment has been primarily focused on mechanical solutions that are often uncomfortable and disruptive.
What Mosanna does: Mosanna is pioneering a pharmaceutical solution for sleep apnea patients with MOS118, which is a nasal spray administered at bedtime that helps restore the body’s natural airway reflex. MOS118 targets the upper airway muscles that are responsible for maintaining airway patency. And research has shown that, for reasons yet unknown, the natural airway reflex in OSA patients exhibits decreased activity during sleep resulting in loss of airway patency and apnea. The new funding will support the advancement of MOS118 through Phase 2 development while also supporting expansion of Mosanna’s pipeline.
Leadership team: Mosanna also appointed veteran biotech leader David Weber, Ph.D., as President and Chief Executive Officer to guide Mosanna’s next stage of growth. 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. And Dr. Weber was also appointed to Mosanna’s Board of Directors.
Board members: In connection with the funding, Drs. 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.
KEY QUOTES:
“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. MOS118 is the first therapy with the potential to restore the body’s natural airway reflex with the simplicity of a nasal spray. MOS118 has the potential to dramatically improve adherence and outcomes in a patient population that has long been underserved.”
Daniela Begolo, Ph.D., Managing Director with EQT Life Sciences
“With his deep expertise in biotech innovation and patient-centric therapies, Dr. Weber was the ideal choice to lead Mosanna into the next chapter. We look forward to partnering with him and the Mosanna team to deliver on the promise of this life-changing sleep apnea treatment.”
Jeni Lee, Ph.D., Partner with Pivotal bioVenture Partners
“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. 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.”
Dr. Weber
