Swiss start-up: first medication for tinnitus

Dear reader

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. According to researchers led by company founder Thomas Meyer, Auris is the first company to bring medication for tinnitus and acute hearing loss to the market. If everything runs smoothly, both should be available in 2016. 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.

Zurich-based Diplomera AG completed a first round of financing this week, and biotech company Amal Therapeutics together with French company TransCure bioServices have received a European Eurostars Programme grant for a total of €1:07 million.

The Swiss Foundation for the Promotion of the Swiss Economy is supporting the scientific research of four companies – Mimedis, Calcisco, Versantis and Code Tickler – with a loan of CHF 100,000 each.

Three weeks ago, Google announced that the group intends to invest $100 million in European high-tech start-ups. Swisscom has been doing the same in this country for a long time. This week Roger Wüthrich-Hasenböhler, head of Swisscom’s SME division, said in an interview that Swisscom Ventures, which operates as an evergreen fund, invests about CHF90 million alone in Swiss start-ups. In addition, Swisscom contributes financing of up to CHF 10 million to support young companies at an early stage. However, the early stage area is not about investment in the millions, but seed money of up to CHF500,000. Zürcher Kantonalbank remains the most important player in Switzerland for the provision of seed money. It invests up to CHF10 million a year in start-ups and now has a portfolio of more than 100 companies.

The Federal Office of Energy is seeking out the best energy projects; companies have until the end of the month to apply for the Watt d’Or energy prize. By the way, start-ups that want to implement energy-cleantech or social and environmental projects have the opportunity to profit from Impact Hub Zurich’s start-up programmes, with application deadlines in the next month. Also in August, the deadline for the Zug Innovation Award is 15 August and the end of August for the Swiss Technology Award.

Another important note: next Friday, 1 August, the newsletter will be taking a holiday as it’s Swiss National Day. The next newsletter will appear on 8 August.

Have a good summer.

Claus Niedermann
Editor-in-chief startupticker.ch