Otonomy Inc. has raised $49 million in a Series D round to further advance its treatments for diseases of the ear.
The company has raised nearly $145 million since its launch six years ago, including a Series C round in September for $45.9 million.
The company has two drug candidates in clinical development that are advancing to late-stage trial: a steroid that treats vertigo in patients with Meniere’s disease and an antibiotic for children undergoing ear tube placement surgery.
The newest investors in the oversubscribed round include Jennison Associates LLC, Perceptive Advisors and Federated Kaufmann Funds. All Otonomy’s previous investors also participated in this most recent financing round.
To read more on this story, see the May 5 edition of the San Diego Business Journal.