27th Apr 2015 06:47
LONDON (Alliance News) - Imperial Innovations Group PLC said Monday its portfolio company Autifony Therapeutics has recruited its first subject in a phase IIa study of its lead product AUT00063 for the treatment of age-related hearing loss.
The study will focus on the potential of the treatment to improve hearing by focusing on discriminating speech from background noise. The product is a Kv3 potassium channel modulator, which is also in development for the treatment of tinnitus.
Imperial Innovations has a 25.1% interest in Autifony, with a fair value of GBP6.1 million.
"Autifony's concept of using a pharmaceutical treatment to improve hearing is completely novel and CLARITY is a pioneering trial. It is also a significant milestone for Autifony in that it highlights the acceptance of the company's first Investigational New Drug by the [US Food and Drug Administration]," said Director of Healthcare Ventures at Imperial Innovations Maina Bhaman in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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