Otonomy raises $49 million in series D
Ear disorder company Otonomy Inc. (San Diego, Calif.) raised $49 million in a series D round. New investors Jennison Associates; Perceptive Advisors; Federated Kaufmann Funds; Clough Capital Partners; Ally Bridge Group; and undisclosed institutional investors participated. All of Otonomy's existing investors also participated in the round, including OrbiMed Advisors; Novo Ventures; TPG Biotech; Avalon Ventures; Domain Associates; RiverVest Venture Partners; Aperture Venture Partners; and Osage University Partners.
Otonomy's OTO-201, a sustained-release gel formulation of ciprofloxacin, is in Phase III testing to treat middle ear effusion in pediatric patients requiring tympanostomy tube placement surgery. The company expects data next quarter, with an NDA submission slated for 1Q15. The company's OTO-104 is in a Phase IIb trial for Meniere's disease, a disorder of the inner ear affecting balance and hearing. OTO-104 is a sustained-release dexamethasone gel delivered via intratympanic injection. ...