Otonomy Lands $45.9M

San Diego-based biopharmaceuticals firm Otonomy announced this morning that it has raised $45.9M in a Series C, equity funding. According to the company, the funding was led by OrbiMed Advisors, and also included Aperture Venture Partners, Osage University Partners, as well as Avalon Ventures, Domain Associates, Novo Ventures, RiverVest Venture Partners and TPG Biotech. Otonomy is a biopharmaceuticals firm developing treatments for diseases and disorders of the inner and middle ear. The company said the funding will go towards late-stage clinical trials for two compounds, as well as a to advance a third program to clinical trials. Chau Q. Khuong of OrbiMed wil join the company's board with the funding. More information »