Otonomy heads to the clinic with a tinnitus drug

Otonomy ($OTIC), developing treatments for ear disorders, got FDA clearance to start a clinical trial of its therapy for tinnitus. The San Diego biotech is now mapping out a dose-escalating Phase I study to determine the safety and tolerability of OTO-311, an NMDA agonist designed to treat persistent ringing in the ears. Otonomy pulled off a $100 million IPO last year on the strength of its pipeline of drugs for ear ailments, but the company took a blow in May when its treatment for Ménière's disease missed its main goal in a Phase IIb trial. Otonomy is expecting to win FDA approval for its lead candidate, AuriPro, in December. Release