Based: San Diego
Investors: Novo Ventures, Avalon Ventures, RiverVest Venture Partners, Domain Associates, and TPG Biotech.
Scoop: Otonomy closed a $38.5 million Series B financing last August. Novo Ventures and RiverVest Venture Partners co-led the round with help from Domain Associates and TPG Biotech. Otonomy had earlier in the summer raised $10 million.
Otonomy's lead product is OTO-104. This sustained-release steroid is being evaluated in a Phase Ib trial as a treatment for Meniere's disease, a condition that can affect hearing and balance. The developer also is working on OTO-203, a combination product for middle ear infections.