The biopharmaceutical company has secured $49m in an oversubscribed series D.

Otonomy, a biopharmaceutical company focused on therapeutics for diseases and disorders of the inner and middle ear, has secured $49 in its series D. The round was oversubscribed and included new investors Jennison Associates, Perceptive Advisors, Federated Kaufmann Funds, Ally Bridge Group, as well as private investment funds advised by Clough Capital Partners and undisclosed institutional investors.

All existing investors also participated in the round, including OrbiMed Advisors, Novo Ventures, TPG Biotech, Avalon Ventures, Domain Associates, RiverVest Venture Partners, Aperture Venture Partners, and Osage University Partners. The series D takes the company’s total money raised to $143.4m.

Osage University Partners first became an investor during the $45.9m series C, which closed in September 2013. Osage University Partners is a venture capital fund specialising in university spinouts. It has partnerships with more than 50 affiliated universities, national labs, and research institutions.

Otonomy was founded in 2008 by Avalon Ventures and experts in the otology field in order to build the premier company dedicated to the treatment of otic disorders via localised drug delivery. The company currently has three product candidates: AuriPro (formerly called OTO-201) is an antibiotic to treat various middle ear conditions; OTO-104 is a steroid against hearing loss and balance disorders, and is currently undergoing a trial in patients with Ménière’s disease; OTO-311 is a drug for the treatment of tinnitus.

The series D will allow the company to advance its pipeline through the potential filing for regulatory approval of AuriPro, completion of the study of OTO-104, and advancement of OTO-311 into clinical development.

David A. Weber, president and chief executive officer of Otonomy, said: “We appreciate the continued financial backing provided by our existing investors and welcome our new investors who bring valuable perspective, experience, and capital resources to the company. This financing strengthens our balance sheet as we work to achieve important milestones for each of our three product candidates. Furthermore, these funds will support our transition to a pre-commercial company pending positive clinical results from the ongoing OTO-201 Phase 3 trials.”