AudioCure is advancing AC102, an investigational drug for sudden hearing loss that has completed tolerability and safety testing in humans and is currently in a Europe-wide phase-2 efficacy study. In preclinical hearing-loss models AC102 restored hearing almost completely, reportedly outperforming conventional corticosteroid therapies. The company is supported by strategic investors who contribute both capital and ENT expertise. Recent investors include MED-EL as a main investor and seed investor High-Tech Gründerfonds (HTGF); InfectoPharm has joined as a new competence partner. Additional funds from the new financing round will be used primarily to further develop AC102 and advance clinical development. AudioCure positions itself to combine pharmaceutical and medical-device expertise through its investor base as it progresses clinical studies. AudioCure Pharma GmbH is a Germany-based pharmaceutical R&D company developing novel pharmacotherapies for disorders of the inner ear, with a focus on hearing loss. Its lead candidate is the small molecule AC102, targeting auditory disorders including acute hearing loss and acute tinnitus. The company intends to use the €9m Series A to advance AC102 into Phase I clinical trials. As part of the financing, MED-EL obtained exclusive licensing rights and shares and will collaborate with AudioCure to develop a preventative therapy for electrode insertion trauma (EIT). Backers in the round included MED-EL, existing investor High-Tech Gruenderfonds and other private investors. AudioCure is led by founder and CEO Prof. Hans Rommelspacher and COO Dr. Reimar Schlingensiepen and remains dedicated to preclinical research and clinical development. AudioCure Pharma is focused on the clinical development of drug candidates for neurodegenerative disease indications. Its lead candidate is a small-molecule compound intended to treat acute and chronic hearing impairments via local, regenerative therapy of damaged nerve cells in the inner ear. The company plans to use the seed financing to develop its lead compound through the preclinical phase. AudioCure was founded in 2010 by university professor and medical doctor Hans Rommelspacher. The company helped create the NeuroPro Alliance research network alongside NanoPet Pharma Berlin and Wildau Technical University of Applied Sciences. The startup is based in Berlin, Germany.

Total raised

$10M

Funding rounds

3

Latest round

Series A

Latest activity

Nov 2016