Auris raises $50.7 million in series C

Audiology company Auris Medical AG (Basel Switzerland) raised CHF47.1 million ($50.7 million) in a series C round led by new investors Sofinnova Partners and Sofinnova Ventures. Auris' lead compounds, AM-101 and AM-111, have completed Phase IIb testing and Phase III testing is slated to start by year end. AM-101 is a small molecule NMDA receptor antagonist in development for acute tinnitus, and AM-111 is a selective c-jun N-terminal kinase (JNK) inhibitor in development for acute inner ear hearing loss. AM-111 is partnered with Xigen S.A. (Epalinges, Switzerland). Both compounds are delivered locally into the ear by intratympanic injection. ...