AudioCure Pharma GmbH, a Germany-based pharmaceutical R&D company focused on hearing loss, raised €9m in Series A funding.
Backers included MED-EL, a provider of hearing implant systems worldwide which received exclusive licensing rights and shares, existing investor High-Tech Gruenderfonds and other private investors.
Led by founder and CEO Prof. Hans Rommelspacher, former head of the Department of Clinical Neurobiology in the Psychiatric Clinic at the Charité University, Berlin, and Dr. Reimar Schlingensiepen, COO, a serial entrepreneur and manager of biopharmaceutical companies, AudioCure is dedicated to the preclinical research and clinical development of novel pharmacotherapies to treat disorders of the inner ear.
The company intends now to use the funds to get its lead candidate, the small molecule AC102, into Phase I clinical trials in auditory disorders including acute hearing loss and acute tinnitus.
In conjunction with the funding agreement, MED-EL and AudioCure will cooperate in order to develop a preventative therapy for electrode insertion trauma (EIT).
FinSMEs
29/11/2016