AAA Decibel decides on $82m series D

Decibel decides on $82m series D

US-based hearing loss treatment developer Decibel Therapeutics completed an $82m series D round yesterday backed by GV and SR One, subsidiaries of internet and technology group Alphabet and pharmaceutical firm GlaxoSmithKline respectively.

Life sciences investment firm OrbiMed led the round, which included BlackRock Health Sciences, Casdin Capital, Janus Henderson, Samsara BioCapital, Surveyor Capital, Foresite Capital, S-Cubed Capital, Sobrato Capital, Third Rock Ventures and unnamed other investors.

Decibel is working on gene therapies intended to restore hearing loss or balance to hearing by restoring functional hair cells in a patient’s inner ear. It aims to bring DB-OTO, the lead drug candidate it is developing with Regenron, into clinical trials in 2022.

Laurence Reid, Decibel’s CEO, said: “Hearing and balance disorders have historically been overlooked by the biopharma industry, even though they exact a devastating toll on the lives of hundreds of millions of people around the globe.

“At Decibel, we are dedicated to restoring hearing and balance with precision therapeutics designed to deliver the right genetic medicine specifically to the right cells in the ear. We are grateful to this group of outstanding investors for choosing to partner with us to advance this vision.”

GV, SR One, pharmaceutical company Regeneron had joined Third Rock Ventures, Bessemer Trust, Schroder Adveq, Foresite Capital, SCubed Capital, Longevity Fund and undisclosed others to provide $55m in series C funding for the company in mid-2018.

Decibel had received an undisclosed amount from GV the year before, having added $5.8m to close a series A the same year fuelled by $52m from SR One and Third Rock Ventures in 2015.

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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