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Otonomy Completes $45.9 Million Series C Equity Financing
Date:9/4/2013

SAN DIEGO, Sept. 4, 2013 /PRNewswire/ -- Otonomy, Inc., a clinical stage biopharmaceutical company developing innovative therapeutics for diseases and disorders of the inner and middle ear, today announced that it completed a Series C financing which raised $45.9 million in new funds. The investment was led by OrbiMed Advisors, LLC and new investors Aperture Venture Partners and Osage University Partners also participated. Existing investors Avalon Ventures, Domain Associates, Novo Ventures, RiverVest Venture Partners and TPG Biotech joined in the financing as well. Otonomy plans to use the financing to fund late-stage clinical trials for OTO-201 and OTO-104, development work to advance a third program to clinical trials and general corporate purposes.

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The company also announced today that, in conjunction with the financing, Chau Q. Khuong has joined Otonomy's board of directors. Mr. Khuong is private equity partner at OrbiMed and brings significant experience in private company operations as well as business development.

"We are pleased to have some of the world's leading healthcare investors participate in this financing led by OrbiMed," said David A. Weber, Ph.D., president and CEO of Otonomy. "Following the successful completion of clinical trials for both of our product candidates, Otonomy is now positioned to complete late-stage trials for both OTO-104 and OTO-201, and further expand our product pipeline."

"Otic diseases remain underserved by the pharmaceutical industry and represent a significant unmet medical need with millions impacted each year in the U.S. alone," said Mr. Khuong. "OTO-104 and OTO-201 along with the company's proprietary technologies have established Otonomy as a leader in this field, and provide the opportunit
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SOURCE Otonomy, Inc.
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