Auris Medical Announces Formation of New Subsidiary for Development Projects in Tinnitus and Hearing Loss
Posted on December 30, 2019 by Medtech[y] Staff
Hamilton, Bermuda, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Auris Medical Holding Ltd. (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders, today announced the formation of a new subsidiary, Zilentin Ltd., to bundle its development projects for the treatment of tinnitus and hearing loss in a separate entity. Upon completion of the transfers from other Group companies, Zilentin AG shall own all tangible and intangible assets related to the development of tinnitus therapeutics (Keyzilen® / AM-101 as well as early stage projects) and hearing loss therapeutics (Sonsuvi® / AM-111). Zilentin Ltd. is domiciled in Zug, Switzerland.
About Auris Medical
Auris Medical is a biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders. The company is focused on the development of intranasal betahistine for the treatment of vertigo (AM-125) and for the prevention of antipsychotic-induced weight gain and somnolence (AM-201). These projects have gone through two Phase 1 trials. In 2019, a randomized placebo-controlled Phase 2 clinical study for AM-125 and a Phase 1b proof-of-concept study for AM-201 were initiated. In addition, Auris Medical has two Phase 3 programs under development: Sonsuvi® (AM-111) for acute inner ear hearing loss and Keyzilen® (AM-101) for acute inner ear tinnitus. The Company was founded in 2003 and is headquartered in Hamilton, Bermuda. The shares of Auris Medical Holding Ltd. trade on the NASDAQ Capital Market under the symbol “EARS.”
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