Novo Ventures and RiverVest Venture Partners co-lead US-based biotech company Otonomy's second round of funding.
US-based biopharmaceuticals company Otonomy, which is targeting disorders of the ear, has raised $38.5m in a series B round co-led by Novo Ventures, the corporate venturing division of Denmark-based medical foundation Novo.
The other co-lead was venture capital firm RiverVest Venture Partners. They were joined by financial investors Domain Associates and TPG Biotech. The round is incremental to the $10m Series A closed in June with Otonomy’s incubator, Avalon Ventures, which also participated in the series B.
Jay Lichter, chief…
