Strengthens balance sheet to support commercial readiness and planned U.S. launch of AD109 oral pill for the treatment of Obstructive Sleep Apnea (OSA)

加强资产负债表以支持商业准备和计划中的美国AD109口服药上市，用于治疗阻塞性睡眠呼吸暂停（OSA）。

On track to submit New Drug Application (NDA) for AD109 later this quarter

预计将在本季度晚些时候提交AD109的新药申请（NDA）。

CAMBRIDGE, Mass.

马萨诸塞州剑桥市

,

，

April 6, 2026

2026年4月6日

/PRNewswire/ -- Apnimed, Inc., a pharmaceutical company developing novel oral therapies for obstructive sleep apnea (OSA), today announced that it has entered into a senior secured credit facility for up to $150 million with funds managed by HealthCare Royalty Partners ('HCRx'). The capital is expected to support commercial readiness activities and the planned U.S.

/PRNewswire/ -- Apnimed, Inc.是一家致力于开发阻塞性睡眠呼吸暂停（OSA）新型口服疗法的制药公司，今日宣布已与HealthCare Royalty Partners（“HCRx”）管理的基金达成一项高达1.5亿美元的高级担保信贷协议。这笔资金预计将用于支持商业准备活动及计划中的美国市场推广。

launch of Apnimed's lead product candidate, AD109, if approved by the U.S. Food and Drug Administration (FDA)..

Apnimed的主要候选产品AD109如果获得美国食品和药物管理局（FDA）的批准，将上市。

Under the terms of the agreement, Apnimed will receive $50 million at closing. An additional $50 million tranche will become available upon FDA approval of AD109, and the company may access a third $50 million tranche upon achievement of a pre-specified sales milestone, subject to customary closing conditions..

根据协议条款，Apnimed在交易结束时将获得5000万美元。在AD109获得FDA批准后，将可获得额外的5000万美元资金，并且在达到预设的销售里程碑后，公司可能获得第三笔5000万美元的资金，但需符合惯例的交割条件。

The financing includes an interest-only period of four years, which is extended to five years, if Apnimed achieves a specified net sales milestone. Apnimed also agreed to pay a synthetic royalty equal to a low single-digit percentage of net sales of AD109 and certain other specified revenues, subject to customary terms and conditions..

融资包括四年的只付息期，如果Apnimed达到特定的净销售额里程碑，该期限将延长至五年。Apnimed还同意支付相当于AD109净销售额和某些其他特定收入的低个位数百分比的合成版税，具体条款和条件适用。

'HCR is a highly respected healthcare investor with deep experience in credit financing, and their investment represents an important validation of our investigational product, AD109 and its commercial potential,' said Larry Miller, Chief Executive Officer of Apnimed. 'This strategic financing provides significant financial flexibility and supports our continued progress toward the potential U.S.

“HCR是一家备受尊敬的医疗保健投资者，在信贷融资方面拥有深厚的经验，他们的投资代表了对我们正在研究的产品AD109及其商业潜力的重要认可，”Apnimed首席执行官Larry Miller表示。“这一战略融资提供了显著的财务灵活性，并支持我们在潜在美国市场中继续取得进展。”

commercialization of AD109, if approved.'.

如果获得批准，AD109的商业化。

'With its focused regulatory and commercial strategy for AD109, a novel oral therapy designed to address the root causes of OSA, we believe Apnimed is uniquely positioned to meaningfully impact the treatment landscape for patients living with this serious disease,' said Clarke Futch, Chairman and Chief Executive Officer of HealthCare Royalty Partners.

“凭借其针对AD109的专注监管和商业战略，这种新型口服疗法旨在解决OSA的根本原因，我们相信Apnimed在显著影响这种严重疾病患者的治疗格局方面具有独特地位，”HealthCare Royalty Partners董事长兼首席执行官Clarke Futch表示。

'We look forward to supporting Apnimed's continued growth and mission to bring this innovative treatment option to patients as expeditiously as possible.'.

“我们期待支持Apnimed的持续增长，并尽快将这种创新的治疗选择带给患者。”

Apnimed previously reported positive results from the pivotal SynAIRgy and LunAIRo Phase 3 trials for AD109, which will support the planned submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration, expected later this quarter.

Apnimed 此前报告了 AD109 的关键性 SynAIRgy 和 LunAIRo 第 III 期试验的积极结果，这将支持计划于本季度晚些时候向美国食品药品监督管理局（FDA）提交新药申请（NDA）。

About HealthCare Royalty

关于HealthCare Royalty

HealthCare Royalty ('HCRx') is a leading royalty acquisition company founded in 2006 that is majority owned by KKR & Co. Inc. (NYSE:

HealthCare Royalty（“HCRx”）是一家领先的专利收购公司，成立于2006年，由KKR＆Co. Inc.（纽约证券交易所：

KKR

KKR

). Over two decades, the HCRx team has developed a strong track record of investing in commercial-stage and near-commercial-stage biopharmaceutical assets, committing $7+ billion in over 110 biopharmaceutical products. With offices in New York, Stamford, San Francisco, Boston, London and Miami, HCRx continues to advance biopharmaceutical innovation by providing innovative capital solutions to counterparties.

). 在过去的二十多年里，HCRx团队在投资商业阶段和接近商业阶段的生物制药资产方面建立了良好的记录，承诺向110多种生物制药产品投入70多亿美元。HCRx在纽约、斯坦福、旧金山、波士顿、伦敦和迈阿密设有办事处，继续通过为交易对手提供创新的资本解决方案来推动生物制药创新。

For more information, visit .

有关更多信息，请访问。

https://www.hcrx.com

https://www.hcrx.com

. HEALTHCARE ROYALTY®, HEALTHCARE ROYALTY PARTNERS® and HCRx® are registered trademarks of HealthCare Royalty Management, LLC.

HEALTHCARE ROYALTY®、HEALTHCARE ROYALTY PARTNERS® 和 HCRx® 是 HealthCare Royalty Management, LLC 的注册商标。

About AD109

关于AD109

AD109 is designed to be the first pharmacological treatment to improve oxygenation during sleep by directly addressing the neuromuscular root cause of upper airway collapse in people with OSA. It is a first-in-class combination of aroxybutynin, a novel antimuscarinic, and atomoxetine, a selective norepinephrine reuptake inhibitor (NRI).

AD109旨在成为首个通过直接解决OSA患者上呼吸道塌陷的神经肌肉根本原因来改善睡眠期间氧合的药物治疗。它是第一类结合了新型抗胆碱能药物丁氧基丁宁和选择性去甲肾上腺素再摄取抑制剂（NRI）阿托莫西汀的组合疗法。

Their combined pharmacological synergy is designed to target the underlying neuromuscular cause of OSA. AD109 is a once-daily pill taken at bedtime that is designed to lower the complexity of intervention and may help more people benefit from effective, restorative sleep. In a disease characterized by complex and invasive treatment options, AD109 may be a simple solution to help improve oxygenation and health wellbeing for people living with OSA. .

它们的联合药理协同作用旨在针对OSA的潜在神经肌肉病因。AD109是一种每日一次的睡前口服药片，旨在降低干预的复杂性，并可能帮助更多人从有效、恢复性的睡眠中受益。在以复杂和侵入性治疗选项为特征的疾病中，AD109可能是一个简单的解决方案，有助于改善OSA患者的氧合和健康状况。

About Obstructive Sleep Apnea

关于阻塞性睡眠呼吸暂停

OSA is a serious, chronic sleep-related breathing disease in which the upper airway repeatedly collapses during sleep, leading to intermittent oxygen deprivation. It is caused by two overlapping mechanisms: neuromuscular dysfunction during sleep and predisposing anatomic abnormalities. OSA affects individuals across all walks of life, impacting both males and females of all age groups, ethnicities, and weight classes, including those with or without obesity.

OSA是一种严重的、慢性的与睡眠相关的呼吸系统疾病，在睡眠期间上呼吸道反复塌陷，导致间歇性缺氧。它由两种相互重叠的机制引起：睡眠期间的神经肌肉功能障碍和易感的解剖异常。OSA影响各行各业的人群，涉及所有年龄组、种族和体重级别的男性和女性，包括那些无论是否患有肥胖症的人。

An estimated 80 million people in the United States and one billion people worldwide suffer from OSA. .

据估计，美国有8000万人，全球有10亿人患有OSA。

An individual with OSA can experience hundreds of sleep apnea events in a single night, each one reducing the blood oxygen levels and negatively impacting cellular functions vital to normal health and function. Failure to effectively treat OSA increases the risk of serious long-term health consequences, including cardiovascular, neurocognitive and cardiometabolic damage and heightened mortality.

患有OSA的个体在一夜之间可能会经历数百次睡眠呼吸暂停事件，每一次都会降低血氧水平，并对维持正常健康和功能至关重要的细胞功能产生负面影响。若未能有效治疗OSA，会增加严重长期健康后果的风险，包括心血管、神经认知和心脏代谢损伤以及死亡率的升高。

Yet, many patients diagnosed with OSA remain untreated..

然而，许多被诊断为OSA的患者仍未接受治疗。

About Apnimed

关于Apnimed

Apnimed is a privately held late-stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies that address the neurobiology of sleep-related breathing diseases. We believe the introduction of simple, once-nightly oral drugs has the potential to expand diagnosis and the reach of treatment for people with OSA.

Apnimed是一家私人控股的后期临床制药公司，致力于发现、开发和商业化针对睡眠相关呼吸疾病神经生物学的新型口服疗法。我们相信，引入简单、每晚一次的口服药物有潜力扩大OSA患者的诊断和治疗范围。

We believe that OSA would benefit from having multiple drugs with differing mechanisms to more fully address the heterogeneity of disease pathophysiology. Apnimed envisions a new era where novel oral therapies simplify intervention, expand the reach of diagnosis and treatment, and help more people get the oxygen and restorative sleep needed to thrive..

我们认为，OSA 将受益于拥有多种作用机制不同的药物，从而更全面地应对疾病病理生理学的异质性。Apnimed 展望了一个新时代，新颖的口服疗法简化了干预措施，扩大了诊断和治疗的覆盖范围，并帮助更多人获得所需的氧气和恢复性睡眠以茁壮成长。

Based in Cambridge, Mass., Apnimed is advancing AD109, designed to improve oxygenation in individuals living with OSA. We believe that AD109 could become the catalyst for a new oral treatment paradigm for OSA that has been historically limited to cumbersome devices or invasive surgeries. AD109 has completed two Phase 3 clinical trials for the treatment of mild, moderate and severe OSA and Apnimed plans to submit its New Drug Application (NDA) to the U.S.

总部位于马萨诸塞州剑桥的Apnimed公司正在推进AD109，该药物旨在改善患有阻塞性睡眠呼吸暂停（OSA）患者的氧合状况。我们相信，AD109可能成为推动OSA全新口服治疗模式的催化剂，这一领域历史上仅限于使用笨重的设备或进行侵入性手术。AD109已经完成了两项针对轻度、中度和重度OSA患者的III期临床试验，Apnimed计划向美国提交其新药申请（NDA）。

Food and Drug Administration (the FDA) in the second quarter of 2026..

美国食品药品监督管理局（FDA）在2026年第二季度。

Learn more at apnimed.com or follow us on

了解更多请访问 apnimed.com 或关注我们

X

X

and

和

LinkedIn

领英

.

。

Media Contact:

媒体联系人：

[email protected]

电子邮件地址

Investor Contact:

投资者联系人：

[email protected]

[email protected]

SOURCE Apnimed, Inc.

来源：Apnimed公司

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