Mosanna Therapeutics bags $80m in Series A round

Basel-based Mossana Therapeutics AG is developing an easy-to-use nighttime nasal spray set to restore the body’s natural airway control to treat obstructive sleep apnea (OSA). A Series A financing co-led by Pivotal bioVenture Partners and EQT Life Sciences, along with Forbion, Broadview Ventures, and Norwest as co-lead investors and founding investor Forty51 Ventures as well as Supermoon Capital and High-Tech Gründerfonds (HTGF) now secures enough money to finance clinical testing of the company’s nasal spray formulation MOS118 through Phase IIa studies.

OSA is the most common sleep-related breathing disorder, affecting an estimated 1 billion people globally. 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 largely focused on mechanical solutions that are often uncomfortable and disruptive.

Mosanna Therapeutics‘ lead candidate MOS118 that is being testet in a Phase I trial helps restore the body’s natural airway reflex. MOS118 targets the upper airway muscles that are responsible for maintaining airway patency. 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 II development while also supporting expansion of Mosanna’s pipeline.

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.

With this 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.