Sep. 8 at 2:19 PM
$IXHL $RMD $PHG,
$MDT
Here the reasons why IHL-42X deal in sooner rather than later; Part 1 of 2
Background & Strategic Positioning
a. Apnimed: Pre-IND 2018-2019 (private) → Shionogi
acquired 50% during Phase 2
b. IXHL: Pre-IND 2021-2022 → RMD missed the Apnimed
opportunity
c. Key Signal: Dr. Alison Wimms (former RMD advisor on
Apnimed) joined IXHL's OSA Clinical Advisory Board (Feb
2025)
Timeline to Market
• Apnimed: Phase 3 complete → NDA Q3-Q4 2026
• IXHL: 505(b)(2) pathway accelerates timeline → potential 3-month delay becomes irrelevant
• Clinical superiority: IHL-42X 83% efficacy vs Apnimed 46.8%
(IHL-42X best-in-class recaptures market share)
Market Opportunity
$5-6B addressable OSA market (moderate-severe cases)
Market capture potential: Apnimed 22.6% vs IHL-42X 40% of CPAP market
RMD's
$5.15B revenue →
$2.06B at risk from 40% non-adherent patients
Dominant players: RMD, Philips(PHG), Medtronic(MDT)
