Apnimed, a clinical-stage pharmaceutical company focused on developing oral pharmacologic therapies for the treatment of obstructive sleep apnea (OSA) and related disorders, announced today that it has secured $79.75 million in an oversubscribed financing round that extends its Series C financing to a total of $142.25 million. The financing was led by existing investor Alpha Wave Ventures and included existing investors Sectoral Asset Management, Columbia-Seligman Investments and Tao Capital Partners, among others.

Apnimed is a clinical-stage pharmaceutical company working to transform the treatment of sleep apnea based on a simple idea - patients with obstructive sleep apnea could benefit from treatment with a safe and effective oral medication dosed once daily at bedtime. Apnimed's lead development program targets the neurologic control of upper airway muscles to maintain an open airway during sleep. Based in Cambridge, Mass., the company is developing a portfolio of novel pharmacologic therapies for sleep apnea and related disorders.