Otonomy, a late-stage biotech developing sustained-exposure treatments for ear diseases, filed on Friday with the SEC to raise up to $86 million in an initial public offering. Otonomy plans to submit an NDA in the 1H15 for its lead candidate, AuriPro, which recently completed Phase 3 trials for middle ear effusion during TTP surgery.
Otonomy's second candidate is in Phase 2b trials for Ménière’s disease, and it has a preclinical treatment for tinnitus. Another ear disease biotech, Switzerland-based Auris Medical (EARS), filed to raise the same amount just two weeks ago. Auris is in Phase 3 development for acute inner ear tinnitus.
The San Diego, CA-based company, which was founded in 2008, plans to list on the NASDAQ under the symbol OTIC. Otonomy initially filed confidentially on June 5, 2014. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.
