Swiss start-up turns to the Nasdaq
Last year Auris Medical raised more than CHF47 million in venture capital for further growth. This was the largest round of financing in Switzerland in 2013. The company has two drugs in development: an injection for tinnitus and a drug for hearing loss in the inner ear. The tinnitus medication has already started the third and most expensive stage of development, the phase III trial. The Basel company, which has its headquarters in Zug, intends to raise the necessary capital on the Nasdaq: the IPO should bring Auris a total of $95 million in new money.