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Mutual Fund
seligman.com

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Investments

36

Portfolio Exits

23

About Seligman Investments

Seligman Investments offers a range of mutual funds from money market to aggressive growth. Also offers a selection of offshore and closed-end funds.

Seligman Investments Headquarter Location

100 Park Avenue

New York, New York, 10017,

United States

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Latest Seligman Investments News

Apnimed Closes Series B Financing to Advance Once-Daily Oral Medication for Obstructive Sleep Apnea (OSA)

Mar 26, 2021

- Morningside Ventures Joined by Seligman Investments and Tao Capital Partners - Company expects to report topline data in Q2 2021 from two Phase 2 trials for AD109 for the treatment of OSA - Financing will support Initiation of Phase 3 program CAMBRIDGE, Mass., March 25, 2021-- Apnimed, a clinical-stage company focused on advancing pharmacologic treatments for sleep apnea and related disorders, announced today that it has raised $25 million in a Series B financing led by existing investor, Morningside Ventures, and joined by new investors, Seligman Investments and Tao Capital Partners. The proceeds will support Apnimed’s ongoing development and commercialization plans. The company is advancing its lead program, AD109, an oral disease-modifying therapeutic for the treatment of Obstructive Sleep Apnea (OSA), which is currently in late-stage Phase 2 clinical trials. “Apnimed’s approach with a once-daily oral medication to address the root cause of the condition could not only be a game changer for patients, but also represents a significant market growth opportunity,” said Paul Wick, lead portfolio manager of the Seligman Technology Group at Columbia Threadneedle Investments. “We are confident that the Apnimed team has the expertise and experience to execute these clinical programs and bring this therapeutic option to patients.” “We are excited to support Apnimed’s mission of developing an oral medication for sleep apnea that has the potential to transform and grow the market dramatically,” noted Nicholas Pritzker, Principal of Tao Capital Partners. “The vast majority of patients want a simple and convenient solution which a daily pill taken before sleep can offer.” Sleep apnea is a prevalent and debilitating medical condition that has no pharmaceutical treatment options. Mechanical solutions such as CPAP machines have poor compliance long-term, leaving a significant population of patients untreated, undertreated and at risk. Many patients with sleep apnea are reluctant to seek diagnosis and treatment since the current treatment options, mechanical airway pressure devices and neurostimulation implants, while effective, are often associated with significant obstacles to uptake and long-term compliance. “People living with Obstructive Sleep Apnea need a safe, effective, and easy-to-use treatment option that addresses the underlying neurologic cause of the disease. The proceeds of this financing enable us to initiate our Phase 3 program for AD109,” said Larry Miller, M.D., Chief Executive Officer of Apnimed. “We are pleased to welcome Seligman and Tao Capital Partners to our syndicate and greatly appreciate Morningside’s continued support and recognition of our science and our goal to help address the needs of patients living with OSA.” In late 2020, Apnimed initiated a Phase 2 study of AD109 for the treatment of mild to severe OSA (NCT04580394), and in January 2021, the company initiated a second Phase 2 study of AD109, in mild to moderate OSA (NCT04631107). Data from these studies are anticipated in the second quarter of this year with a Phase 3 registrational study anticipated to follow. If successful, AD109 could offer an entirely new approach to treating OSA with a once-daily, oral medication that addresses the underlying biology of the disease. AD109 combines a selective norepinephrine reuptake inhibitor (atomoxetine) with a novel new chemical entity (NCE) – a selective antimuscarinic (aroxybutynin). Proof-of-concept for the AD109 program was demonstrated by Apnimed in a Phase 2, parallel group dose-finding study of the combination of atomoxetine and racemic oxybutynin. That study provided evidence of safety and efficacy in the treatment of OSA with a norepinephrine reuptake inhibitor (NRI) + antimuscarinic combination in 140 patients – indicating that a pharmacologic approach could treat the underlying neurobiology of OSA. Aroxybutynin has been shown to be safe and well tolerated and had a favorable pharmacokinetic (PK) profile in a Phase 1 study, paving the way for Phase 2 studies of AD109. About AD109 Apnimed’s lead product candidate, AD109, targets the neurologic control and facilitates the activation of the upper airway dilator muscles to maintain an open airway during sleep. AD109 is a first-in-class, oral pharmaceutical combination dosed once-daily at bedtime, designed to treat OSA patients across a broad spectrum of disease severity. AD109 combines a selective norepinephrine reuptake inhibitor (NRI) with a low dose of our novel NCE selective antimuscarinic. The investigational drug is designed to be safe, effective, and convenient, addressing the key limitations of the current standard of care treatments. About Obstructive Sleep Apnea Obstructive Sleep Apnea (OSA) is one of the most common and serious sleep disorders and affects approximately six percent of women and 13 percent of men in the U.S., totaling more than 25 million Americans. OSA is characterized by partial or complete upper airway occlusion that occurs during sleep which may lead to poor sleep, and in the long-term, hypertension, diabetes, cardiovascular disease, strokes, and early mortality. OSA is also a major cause of motor vehicle accidents and workplace injuries. Over 80 percent of diagnosed patients are prescribed positive pressure devices such as CPAP, but only 30-40 percent are compliant long-term, leaving a significant population untreated and at risk. Apnimed expects its pharmacologic therapies to transform treatment of this serious sleep disorder. About Apnimed Apnimed is a clinical-stage company working to transform the treatment of sleep apnea based on a simple idea – patients will benefit from safe and effective oral drug treatment. Based in Cambridge, Mass., the company is developing a portfolio of novel pharmacologic therapies for sleep apnea and related disorders. To learn more visit Apnimed.com or follow the company on LinkedIn and Twitter. Contact:

Seligman Investments Investments

36 Investments

Seligman Investments has made 36 investments. Their latest investment was in Apnimed as part of their Series B on March 3, 2021.

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Seligman Investments Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/25/2021

Series B

Apnimed

$25M

Yes

1

6/14/2007

Unattributed VC - II

BPZ Resources

$37.72M

Yes

12/15/2006

Unattributed VC - II

Force Protection

$152.75M

Yes

9/14/2005

PIPE

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$99M

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0

3/4/2005

Private Equity - II

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$99M

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0

Date

3/25/2021

6/14/2007

12/15/2006

9/14/2005

3/4/2005

Round

Series B

Unattributed VC - II

Unattributed VC - II

PIPE

Private Equity - II

Company

Apnimed

BPZ Resources

Force Protection

Subscribe to see more

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Amount

$25M

$37.72M

$152.75M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

1

0

0

Seligman Investments Portfolio Exits

23 Portfolio Exits

Seligman Investments has 23 portfolio exits. Their latest portfolio exit was Stamps.com on October 06, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/6/2021

Take Private

$99M

6

8/24/2014

Acq - P2P

$99M

1

7/26/2011

Acquired

$99M

1

5/21/2009

Acquired

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10

6/18/2007

IPO

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0

Date

10/6/2021

8/24/2014

7/26/2011

5/21/2009

6/18/2007

Exit

Take Private

Acq - P2P

Acquired

Acquired

IPO

Companies

Subscribe to see more

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

6

1

1

10

0

Seligman Investments Team

2 Team Members

Seligman Investments has 2 team members, including current President, Michael A. Jones.

Name

Work History

Title

Status

Michael A. Jones

President

Current

Vimal Patel

Managing Director

Current

Name

Michael A. Jones

Vimal Patel

Work History

Title

President

Managing Director

Status

Current

Current

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