Decibel Therapeutics, a US-based startup focusing on treatments for hearing disorders, launched yesterday with $52m from backers including SR One, pharmaceutical firm GlaxoSmithKline’s corporate venturing arm.
Healthcare-focused venture capital firm Third Rock Ventures led the series A round, and Third Rock co-founder Kevin Starr will act as Decibel’s chairman and interim CEO.
Decibel will look to discover and develop therapies that can protect, repair or restore hearing, with areas of study set to include noise-induced hearing loss, residual hearing preservation, age and genetic-related hearing loss, tinnitus, and ototoxicity in paediatric cancer and cystic fibrosis patients.
The company has already identified a near-term clinical candidate, and has targeted several other candidates for assessment. In the long term, it aims to investigate the underlying biological causes of hearing loss and create a pipeline of drugs that can treat specific ailments.
Starr said: “Despite the fact that severe hearing disorders affect people of all ages, finding therapeutic treatments remains one of the most under-resourced areas in drug discovery today. Devices such as cochlear implants and hearing aids have significant limitations and there are no therapeutic options available that restore hearing or effectively prevent hearing loss.
“Decibel’s approach is to integrate the latest science, tools and technology into a unique and comprehensive drug discovery platform that will enable the company to develop a pipeline of therapies for a broad range of hearing issues.”
Jens Eckstein, president of SR One, will join Decibel’s board of directors in conjunction with the unit’s investment.