Author: Karl Simpson
Age related diseases are strongly featuring in investor’s minds these days, and UK start-up Autifony, focused on age-related hearing loss and which spun out of GSK in 2013, just banked a further £8m as an extension to a series A round of £15m. With a solid £23m from notable investors which include Imperial Innovations, SV life Sciences and their public entity, International Biotech Trust Plc, as well as money from corporate VC Pfizer Ventures.
The company was originally funded to take its lead drug, AUT00063, through to clinical proof of concept for age related hearing loss. Driven by strong preclinical data, and supportive non-dilutive funding from Innovate UK, Autifony is now also exploring the potential for the company’s novel ion channel mechanism in other areas of high unmet medical need, such as tinnitus and schizophrenia. The additional funding will allow the company to conduct further clinical studies.
The funding is announced in a week when fellow UK biotech, Immunocore, announced a major funding round of $320m, illustrating the UK biotech scene is gathering momentum, whether you’re based in the London cluster like Autifony or elsewhere, like Oxford or Cambridge.