The 51-year-old victim was reportedly assaulted by 2 men and a woman between 23:30 on Tuesday (22nd November), and midnight.
The woman and 1 of the men left the scene in what is believed to be a red Audi.
Officers would like to hear from anyone who witnessed the incident or saw a vehicle matching the description in the area at this time.
Detective Constable Hayley Clayton said:
“We are keen to hear from anyone who saw what happened that night, or who saw a group of people stood near a red car on Newport Street.
“There were members of the public who came to the victim’s aid after this assault, so we would particularly like those people to get in touch.
“Equally, anyone that has any information or knows the people involved, please call police immediately.”
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A 48-year-old man and a 26-year-old woman, both from Ryde, have been arrested in connection with this incident. Both have been bailed until 8th February 2017.
Anyone with information is asked to contact DC Clayton on 101, quoting 44160441486, or call Crimestoppers anonymously on 0800 555 111.