Auris Medical, a Basel, Switzerland-based biotechnology company that develops novel therapeutics for the treatment of inner ear disorders, completed a CHF47.1m Series C financing.
Backers included Sofinnova Ventures and Sofinnova Partners. In conjunction with the round, Jim Healy, MD, PhD, General Partner at Sofinnova Ventures, and Antoine Papiernik, MBA, Managing Partner at Sofinnova Partners, joined Auris Medical’s Board of Directors.
Led by Thomas Meyer, founder and Managing Director, Auris Medical develops specific pharmaceutical compounds for the prevention or treatment of inner ear disorders. The company is currently focusing on the development of treatments for acute inner ear tinnitus (AM-101) and for acute inner ear hearing loss (AM-111) by way of intratympanic injection with biocompatible gel formulations. AM-101 contains a small molecule NMDA receptor antagonist. AM-111 contains a cell-permeable peptide that selectively blocks JNK signalling involved in apoptosis and inflammation.
It is also pursuing some early-stage research and development projects.
The company intends to use the funding to advance its two clinical projects, AM-101 and AM-111, through Phase III studies and ultimately to market launch.