VCs peg audiology as an emerging market as Auris raises $50.7M series C
Sofinnova Partners and Sofinnova Ventures think audiology is the next ophthalmology - a former backwater that has become an investable space.
Last week, the VCs came in as new investors in a CHF47.1 million ($50.7 million) series C round for Auris Medical AG, which is developing therapeutics for inner ear disorders.
The audiology market will "grow massively within the next decade," given the high unmet need and recent scientific advances, said Antoine Papiernik, managing partner at Sofinnova Partners.
Currently, audiology is a prosthetics market with no approved therapeutics. But Papiernik said the audiology community has made great progress in understanding