PLEASANTON, CA / ACCESS Newswire / August 29, 2025 / Noctrix Health, Inc., the developer of the Nidra® Tonic Motor Activation (TOMAC) therapy for Restless Legs Syndrome (RLS), today announced a significant expansion of private financing to accelerate its U.S. commercial launch. The company also announced several key leadership appointments to strengthen its commercial and scientific teams.

Financing Update

Noctrix Health has successfully secured up to $33.5 million in private financing through a combination of debt and equity. The round includes participation from new strategic investors, Blue Venture Fund, a partnership among participating Blue Cross Blue Shield companies and the Blue Cross Blue Shield Association, and Sandbox Clinical Ventures. The Life Sciences Team, a part of the Innovation Banking Group at Bridge Bank, a division of Western Alliance Bank, Member FDIC, has provided the debt facility.

"We are proud to support Noctrix Health as they deliver innovative solutions to patients living with Restless Legs Syndrome," said Bill Wickline, Head of Life Sciences at Bridge Bank. "The Life Sciences Team is dedicated to empowering companies that advance groundbreaking patient care."

"The Blue Venture Fund and Sandbox Clinical Ventures are thrilled to support Noctrix Health in its mission to improve care for patients with Restless Legs Syndrome. We look forward to partnering with Noctrix's outstanding management team as they scale and address a significant unmet need," said Emir Sandhu, Managing Director at Blue Venture Fund and Sandbox Clinical Ventures.

"This additional capital, and more importantly, the invaluable partnership of these strategic groups, strengthens our investor syndicate and positions Noctrix Health to expand commercialization efforts across the United States. This will allow us to bring Nidra® therapy to more patients with RLS expeditiously," said Shri Raghunathan, President & CEO of Noctrix Health.

Leadership Expansion

To support its U.S. launch, Noctrix Health has appointed two new executives:

• Ivan Lubogo has joined as Chief Commercial Officer. Mr. Lubogo previously served as Senior Vice President of U.S. Sales & Strategic Sales at Inspire Medical Systems, where he played a key role in scaling a disruptive therapy for Obstructive Sleep Apnea (OSA). He brings over 20 years of experience in commercial leadership, including roles at Guidant and Boston Scientific.

  "I'm excited to help expand access to a truly breakthrough therapy that has become part of the standard of care for RLS. I look forward to working with Shri and the team to realize the full commercial potential of Nidra® and to serve patients with a world-class experience," said Mr. Lubogo.

• Jonathan Charlesworth, Ph.D. has been promoted to Chief Scientific Officer from his previous role as SVP, Research & Medical Affairs. Dr. Charlesworth will lead efforts to advance clinical visibility and adoption of Nidra® TOMAC therapy.

Additionally, Mark Verratti, Chief Operating Officer of Myriad Genetics, has joined the Board of Directors as an independent director. Mr. Verratti brings more than 25 years of leadership experience in the pharmaceutical and medical device industries, including senior roles at Cyberonics/Livanova where he oversaw global teams spanning more than 70 countries.

About Noctrix Health

Noctrix Health, Inc. is a medical device company dedicated to developing clinically validated, breakthrough medical technologies that improve quality of life for patients with chronic medical conditions. The company's flagship innovation, the Nidra® Tonic Motor Activation (TOMAC) Therapy, is a first-in-class, non-pharmacologic treatment for reducing symptoms of primary moderate-to-severe Restless Legs Syndrome (RLS) and improving sleep quality in adults who are refractory to medications.

For additional information, including prescribing information, safety details, and contraindications, please visit www.nidrarls.com.

Media Contact
info@noctrixhealth.com

SOURCE: Noctrix Health, Inc.