Acousia Therapeutics receives EUR 2.5 M to develop innovative therapy to treat and prevent sensorineural hearing loss
New shareholder, Axxamof Milan, Italy, will transfer certain therapeutic assets to the R&D programs of Acousia.
Acousia Therapeutics has announced the closing of a new investment round of EUR 2.5 million to finance research programs directed at the development of small molecules to treat sensorineural hearing loss and protecting sensory hair cells of the inner ear to prevent hearing loss in at-risk patients. The financing was led by the Boehringer Ingelheim Venture Fund and was supported by the KfW, as well as the new shareholder Axxam of Milan, Italy. In connection with this new investment Axxam will also transfer certain therapeutic assets to the R&D programs of Acousia. These programs will be further progressed by Acousia to generate clinical candidates to be developed subsequently to demonstrate clinical proof of concept.
Joining the Board of Directors is Dr Stefan Lohmer, Chairman and Chief Executive Officer of Axxam.
Dr Michael Bös, Chief Executive Officer of Acousia Therapeutics said: “This investment will allow us to expand our research portfolio. We are very pleased to welcome Stefan as a new Director. His extensive experience in drug discovery and development will be an asset for Acousia.”
Dr Stefan Lohmer added: “There is a pressing medical need for new treatment options for hearing loss. Acousia has world-class expertise in this very special and untapped therapeutic area and we are very pleased to transfer our assets and become a shareholder of Acousia. This operation is a prime example of the Axxam business model of transferring therapeutic assets to innovative biotech companies dedicated to developing treatment options for diseases with a high medical need.”
Related News
-
News US BIOSECURE Act passed by US House of Representatives
The controversial act, which has already impacted several foreign companies operating in the US, was passed by the House of Representatives on September 9, 2024. It is now headed for the US Senate before it can be signed into law by President Joe Biden... -
News Pharma Supply Chain People Moves
The latest appointments, promotions, and structural changes across the pharmaceutical supply chain. -
News Drug prices agreed upon as part of the US Inflation Reduction Act
The Inflation Reduction Act brought into constitution by the Biden administation in 2022, which proposed a drug price negotiation between the government and pharmaceutical companies, has reached it's first agreement. -
.png)
News BIOSECURE Act continues to loom over Chinese pharma manufacturers
With the US BIOSECURE Act on its way to passing into legislation, Chinese companies are facing declining revenues within the first half of 2024 as US pharmaceutical and healthcare companies pull their businesses from the country. -
.png)
News Ophthalmologic drug product Eylea faces biosimilar threats after FDA approvals
Regeneron Pharmaceutical’s blockbuster ophthalmology drug Eylea is facing biosimilar competition as the US FDA approves Biocon’s Yesafili and Samsung Bioepis/Biogen’s Opuviz. -
News ONO Pharmaceutical expands oncology portfolio with acquisition of Deciphera
ONO Pharmaceutical, out of Japan, is in the process of acquiring cancer-therapy maker Deciphera Pharmaceuticals for US$2.4 billion. -
.png)
News First offers for pharma from Medicare drug price negotiations
Ten high-cost drugs from various pharma manufacturers are in pricing negotiations in a first-ever for the US Medicare program. President Biden’s administration stated they have responded to the first round of offers. -
.png)
News Eli Lilly’s Zepbound makes leaps and bounds in weight-loss drug market
In the last week, Eli Lilly has announced their partnership with Amazon.com’s pharmacy unit to deliver prescriptions of Zepbound. Zepbound has also surpassed Novo Nordisk’s Wegovy for the number of prescriptions for the week of March 8.&nbs...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance