Date: 2011-08-22
Type of information: Fundraising
Company: Autifony Therapeutics (UK)
Investors: Imperial Innovations Group (UK) - SV Life Sciences (UK - USA)
Amount: £10m (€11.4 million)
Funding type: financing round
Planned used:
Others: Autifony is a spin-out from GlaxoSmithKline (GSK) with preclinical assets targeting voltage-gated ion channels, the modulation of which is thought to have potential in the treatment of hearing disorders, including noise-induced hearing loss and tinnitus. Following the funding round GSK will own 13.2% of Autifony and Imperial Innovations will hold a 33.6% stake in the business. Proceeds from the funding will be used to accelerate preclinical development with the objective of commencing human trials in early 2013.
Therapeutic area: Otorhinolaryngology
