Issue Date: August 29, 2011
GSK Spins Off A Hearing-Drug Firm
GlaxoSmithKline has taken a minority stake in Autifony Therapeutics, a spin-off of GSK’s early-stage hearing disorder assets. The investment firms Imperial Innovations and SV Life Sciences will each contribute roughly $8 million to the start-up. Autifony will focus on developing modulators of voltage-gated ion channels to treat hearing loss and tinnitus. It hopes to put its first compound into Phase I studies by early 2013.
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