Lead candidate, a sustained-release formulation of dexamethasone, is being tested in Meniere disease.

Otonomy completed a $10 million Series A financing with Avalon Ventures. The funding will be used to support ongoing clinical investigations of OTO-104 in Meniere disease, initiate IND-enabling studies for OTO-203, and continue early-stage development of a third program.

OTO-104 is a sustained-release formulation of the steroid dexamethasone. Otonomy is conducting a prospective, randomized, placebo-controlled, multicenter Phase Ib study with OTO-104 given as a single intratympanic (IT) injection in subjects with unilateral Meniere disease. Preclinical studies have demonstrated that the compound can effectively deliver a prolonged and dose-proportional exposure of dexamethasone to the inner ear and is well-tolerated in a broad set of safety evaluations, according to the company.

The firm is also planning studies with OTO-104 for acute hearing loss. OTO-203 is a sustained-release antibiotic being developed for the treatment of otitis media. Otonomy’s pipeline is focused on therapies for disorders of the inner and middle ear.

Previous articleStudy Finds Increased Numbers of Gene-Disrupting CNVs in Autism
Next articleBioTime Sets Up OrthoCyte Subsidiary for Stem Cell Based Orthopedic Products