Noctrix Health announced today that it has closed a $40 million Series C financing round led by Sectoral Asset Management with participation from other new investors Angelini Ventures, ResMed, and Asahi Kasei Corporation with strong support from insiders including OrbiMed and Treo Ventures. This infusion of capital will propel the advancement of Nidra Tonic Motor Activation (TOMAC) therapy towards its launch in the U.S. market. The company said Nidra stands as the first and only approved treatment for drug-refractory Restless Legs Syndrome (RLS).
The Nidra Tonic Motor Activation therapy is a clinically validated treatment indicated for reducing the symptoms of RLS and improving sleep quality in adults refractory to medications and was granted a De Novo authorization by the US Food and Drug Administration (FDA) in April 2023 after receiving a Breakthrough Device Designation from the agency in 2020.
Noctrix Health has experienced a banner year in 2023, marked by the FDA marketing authorization of TOMAC therapy, followed by several key publications including a recent study demonstrating TOMAC therapy's efficacy in reducing opioid use in patients with RLS, further reinforcing its potential impact on patient outcomes.
