Decibel Therapeutics, a Boston, MA-based company focused on the discovery and development of medicines to treat hearing loss and hearing-related disorders, raised $55M in Series C financing.
Backers included existing investors Third Rock Ventures, GV, SR One, and Regeneron Pharmaceuticals and new investors including Foresite Capital, Bessemer Venture Partners, Schroder Adveq, S-Cubed, Longevity, and additional undisclosed institutional investors. In conjunction with this financing round, Dr. Anthony Philippakis, Venture Partner at GV, has joined the board of directors and George Scangos, CEO of Vir Biotechnology, has assumed the role of Chair of the board.
The company intends to use the proceeds from the financing to advance its clinical and preclinical product candidates as well as to build out its hearing drug discovery and development platform and capabilities.
Led by Steven Holtzman, President and Chief Executive Officer, Decibel Therapeutics provides a comprehensive drug discovery, development, and translational research platform to discover and develop therapeutics to protect, repair, and restore hearing to serve the over half billion people
globally living with hearing loss and related disorders.