Auris Medical Announces Formation of New Subsidiary for Development Projects in Tinnitus and Hearing Loss
December 30 2019 - 8:30AM
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.”
Forward-looking Statements
This press release may contain statements that
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements are
statements other than historical facts and may include statements
that address future operating, financial or business performance or
Auris Medical’s strategies or expectations. In some cases, you can
identify these statements by forward-looking words such as “may,”
“might,” “will,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “projects,” “potential,”
“outlook” or “continue,” or the negative of these terms and other
comparable terminology. Forward-looking statements are based on
management’s current expectations and beliefs and involve
significant risks and uncertainties that could cause actual
results, developments and business decisions to differ materially
from those contemplated by these statements. These risks and
uncertainties include, but are not limited to, Auris Medical’s
capability to partner any of its assets, need for and ability to
raise substantial additional funding to continue the development of
its product candidates, the timing and conduct of clinical trials
of Auris Medical’s product candidates and that such trials will not
meet their endpoints , the clinical utility of Auris Medical’s
product candidates, the timing or likelihood of regulatory filings
and approvals, Auris Medical’s intellectual property position and
Auris Medical’s financial position, including the impact of any
future acquisitions, dispositions, partnerships, license
transactions or changes to Auris Medical’s capital structure,
including future securities offerings. These risks and
uncertainties also include, but are not limited to, those described
under the caption “Risk Factors” in Auris Medical’s Annual Report
on Form 20-F for the year ended December 31, 2018 and future
filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date they are made,
and Auris Medical does not undertake any obligation to update them
in light of new information, future developments or otherwise,
except as may be required under applicable law. All forward-looking
statements are qualified in their entirety by this cautionary
statement.
Investor contact: Joseph Green Edison Advisors
for Auris Medical 646-653-7030 jgreen@edisongroup.com
or
investors@aurismedical.com
Auris Medical (NASDAQ:EARS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Auris Medical (NASDAQ:EARS)
Historical Stock Chart
From Apr 2023 to Apr 2024