Acousia Therapeutics GmbH, a clinical-stage biotech company developing drug candidates against acute and chronic forms of hearing loss, proudly announces Esperante Ventures as the latest addition to its esteemed group of investors.
The infusion of fresh capital is set to boost the progress of Acousia's Kv7.4 activator programs, with a focus on advancing the ongoing clinical development of ACOU085 - a proprietary, small-molecule, etiology-agnostic otoprotective drug candidate, which recently entered Phase 2 clinical testing for the prevention of chemotherapy-induced hearing loss and sensory hair cell death in cancer patients.
The significant otoprotective potential of ACOU085 is broadly supported by results from a number of preclinical studies in relevant models. Sustained target exposure by ACOU085 in the cochlea is achieved through local application of a novel, proprietary slow-release gel formulation using standard transtympanic injection.
Tim Boelke, CEO of Acousia Therapeutics, said: "Adding Esperante Ventures with their existing position in inner ear therapeutics to our investor syndicate – amidst a challenging macro-economic environment and despite recent drawbacks in competing hearing loss drug development programs – is a testament to the confidence in our unique and proprietary Kv7.4 activator approach.
“Our lead candidate ACOU085, currently in Clinical Phase 2, aims to set a new standard for treating acute and subacute forms of hearing loss." Dean Slagel, Managing Director of Esperante Ventures, said: "We are excited to invest in Acousia's novel and compelling approach to treating the significant unmet indication of chemotherapy-induced hearing loss, supported by its excellent leadership, robust data and experienced investors."
