Date: 2013-04-16
Type of information: Fundraising
Company: Auris Medical (Switzerland)
Investors: Sofinnova Ventures (USA) Sofinnova Partners (France)
Amount: CHF 47.1 million (€38.7 million)
Funding type: Series C financing round
Planned used:
Others: Auris Medical has secured a CHF 47.1 million (€38.7 million) Series C financing from Sofinnova Ventures and Sofinnova Partners. The funding will enable Auris Medical to advance its two clinical projects, AM-101 for the treatment of acute tinnitus and AM-111 for the treatment of acute inner ear hearing loss, through Phase III studies and ultimately to market launch. These products are delivered by way of intratympanic injection with biocompatible gel formulations.
Last February, Auris Medical has announced that enrolment has been completed for its TACTT1 1 study, a phase II clinical trial with AM-101 for the treatment of acute peripheral tinnitus.
In a Phase IIb clinical trial AM-111 showed a statistically significant reduction in tinnitus loudness and several other outcomes in patients suffering from acute tinnitus with established cochlear origin.
In connection with the fund raising, Jim Healy, MD, PhD, General Partner at Sofinnova Ventures, and Antoine Papiernik, MBA, Managing Partner at Sofinnova Partners, joined Auris Medical’s Board of Directors
Therapeutic area: Otorhinolaryngology
