Date: 2014-02-10
Type of information: Series A financing round
Company: Audion Therapeutics (The Netherlands)
Investors: Eli Lilly (USA)
Amount: undisclosed
Funding type: Series A financing round
Planned used:
Others: * On February 10, 2014, Audion Therapeutics has announced that it has received a Series A investment from Eli Lilly to enable the company to progress its programs targeting sensorineural hearing loss. As part of the investment, the parties also entered into a licensing agreement that gives Audion the rights to certain Lilly compounds that can be developed to potentially treat hearing loss by hair cell regeneration. Under the terms of the license, Lilly has an option to reacquire these rights upon successful clinical Proof of Concept. Financial terms were not disclosed. Following the investment, Mr. Shaun Hawkins, Vice President of Lilly New Ventures, has become a member of Audion’s Supervisory Board.
Therapeutic area: Otorhinolaryngology
