Nyxoah SA Overview
Pro stress-test →Nyxoah SA is a medical technology company that develops breakthrough treatment alternatives for Obstructive Sleep Apnea (OSA) through neuromodulation. The company's lead solution is the Genio system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world's most common sleep disordered breathing condition. The company achieved FDA approval in August 2025 and is now commercializing in the U.S. market.
Strategic Profile
Pro stress-test →Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. In January 2026, Nyxoah announced a new investment to expand its Belgian manufacturing capacity with a nearly 2,000-square-meter facility with a state-of-the-art cleanroom at LégiaPark in the Liège region to meet growing demand for its Genio therapy in the United States and international markets. The company is positioned as an innovative challenger in hypoglossal nerve stimulation therapy facing patent litigation from established competitor Inspire Medical Systems.
Competitive Landscape
Pro stress-test →Inspire Medical Systems is the established leader in hypoglossal nerve stimulation for OSA, with Nyxoah positioned as an innovative challenger offering a leadless, battery-free alternative. The broader OSA treatment market includes CPAP machines, oral appliances, and positional therapy, but Nyxoah targets the surgical/minimally-invasive segment. Competitive advantage rests on product differentiation (no battery/leads) and CE marking in Europe since 2019, but Inspire's market leadership and patent protection create barriers.
Industry Context
Nyxoah SA operates in Medical Devices - Neuromodulation/Sleep Medicine.
Key facts
Founded: 2009 · Headquarters: Mont-Saint-Guibert, Belgium · Revenue: €1.3M (Q2 2025)