ARTICLE | Finance

Hearing His Pain

Fast B round for Otonomy, an inner ear specialty pharma play

August 30, 2010 7:00 AM UTC

What started as an idea cooked up by one VC and his personal physician has attracted the interest of new investors, as Otonomy Inc. this week was to announce a $38.5 million series B round.

Jay Lichter of Avalon Ventures had been suffering from Ménière's disease, an inner ear disorder that can cause severe dizziness, a roaring sound, occasional hearing loss and the feeling of ear pressure or pain. Faced by the dearth of effective treatments, he started working with Jeffrey Harris to develop ideas and write patents. Harris is professor and chief of the Division of Otolaryngology-Head & Neck Surgery at the University of California at San Diego...