Fundraisings and IPOs

Date: 2016-12-14

Type of information: Financing round

Company: Acousia Therapeutics (Germany)

Investors: Boehringer Ingelheim Venture Fund (BIVF) (Germany) KfW (Germany) Axxam (Italy)

Amount: € 2.5 million

Funding type: financing round

Planned used: The funds will be used to finance research programs directed at the development of small molecules to treat sensorineural hearing loss and protecting sensory hair cells of the inner ear to prevent hearing loss in at-risk patients. Acousia's therapeutic approach will replace lost sensory hair cells, the key cells for hearing in the inner ear, by cellular regeneration originating from supporting cells. Acousia will develop drugs for local application, which will restore hearing in patients who have lost their hearing ability due to various reasons, e.g. noise trauma, treatment with ototoxic drugs or sudden deafness. In addition, this therapy will have the potential to treat the age-related decrease in hearing capacity.  

Others:

• • On December 14, 2016, Acousia Therapeutics announced the closing of a new investment round of € 2.5 million led by the Boehringer Ingelheim Venture Fund. The round was supported by the KfW as well as the new shareholder Axxam SpA of Milan, Italy. In connection with this new investment Axxam will also transfer certain therapeutic assets to the R&D programs of Acousia. These programs will be further progressed by Acousia to generate clinical candidates to be developed subsequently to demonstrate clinical proof of concept. Joining the Board of Directors is Dr. Stefan Lohmer, Chairman and Chief Executive Officer of Axxam.

Therapeutic area: Otorhinolaryngology

Is general: Yes