Otonomy, Inc., a San Diego, CA-based clinical stage biopharmaceutical company developing innovative therapeutics for diseases and disorders of the inner and middle ear, completed a $45.9m Series C financing.
The round was led by OrbiMed Advisors, LLC, with participation from new investors Aperture Venture Partners and Osage University Partners and existing investors Avalon Ventures, Domain Associates, Novo Ventures, RiverVest Venture Partners and TPG Biotech. In conjunction with the financing, Chau Q. Khuong, a private equity partner at OrbiMed, joined Otonomy’s board of directors.
The company intends to use the capital to fund late-stage clinical trials for OTO-201 and OTO-104, development work to advance a third program to clinical trials and general corporate purposes.
Led by David A. Weber, Ph.D., president and CEO, Otonomy has developed proprietary technology to advance therapeutics for diseases and disorders of the ear. The company has two product candidates in clinical development:
– OTO-104, a steroid that has completed a Phase 1b clinical trial in Meniere’s disease patients;
– OTO-201, an antibiotic that has recently completed a Phase 1b clinical trial in pediatric patients with middle ear effusion at the time of tympanostomy tube placement surgery.