Otonomy, a San Diego, CA-based biopharmaceutical company developing therapeutics for diseases for the ear, secured $49m in Series D financing.
Backers included new investors Jennison Associates LLC (on behalf of clients), Perceptive Advisors, Federated Kaufmann Funds, private investment funds advised by Clough Capital Partners LP, Ally Bridge Group, and additional undisclosed institutional investors as well as existing investors OrbiMed Advisors LLC, Novo Ventures, TPG Biotech, Avalon Ventures, Domain Associates, RiverVest Venture Partners, Aperture Venture Partners, and Osage University Partners.
Led by David A. Weber, Ph.D., president and CEO, Otonomy develops and commercializes innovative therapeutics for diseases and disorders of the ear. Its proprietary technology provides exposure of drugs to the middle and inner ear following a single intratympanic (IT) injection.
The company has three product candidates in development:
– OTO-201 is an antibiotic that is in Phase 3 clinical trials in pediatric patients with middle ear effusion at the time of tympanostomy tube placement surgery;
– OTO-104 is a steroid that is in the first of two pivotal clinical studies for the treatment of patients with Meniere’s disease; and
– OTO-311 is an NMDA receptor antagonist in development as a treatment for tinnitus.
It intends to use the proceeds to advance its product pipeline through the potential filing for regulatory approval of OTO-201 in pediatric patients undergoing tympanostomy tube placement surgery, completion of the ongoing pivotal study of OTO-104 in Meniere’s disease patients, and advancement of OTO-311 into clinical development for the treatment of tinnitus.