Akouos Closes $105 Million Series B Financing
Appoints Vicki Sato, Ph.D., and Heather Preston, M.D., to Board of Directors
Boston, Mass. – March 3, 2020 – Akouos, Inc. (“Akouos”), a precision genetic medicine company developing potential gene therapies to restore, improve or preserve hearing, today announced it has raised $105 million in an oversubscribed Series B financing. The Series B financing was led by Pivotal bioVenture Partners, with participation from new investors Cormorant Asset Management, Cowen Healthcare Investments, EcoR1 Capital, Fidelity Management & Research Company, Polaris Founders Fund, Pagsgroup, Surveyor Capital (a Citadel company), Wu Capital and other well-respected institutional investors. Existing investors, 5AM Ventures, New Enterprise Associates, Novartis Venture Fund, Partners Innovation Fund, RA Capital Management and Sofinnova Investments also participated in the round. In conjunction with this financing, the company has appointed Vicki Sato, Ph.D., and Heather Preston, M.D., to its board of directors.
“This year is poised to be one of growth for Akouos, and we are delighted to have the support from a world-class syndicate of investors in our Series B financing to advance our current programs and pipeline of potential genetic medicines for hearing loss,” said Manny Simons, Ph.D., founder, president and CEO of Akouos. “We are also pleased to welcome Drs. Sato and Preston, two highly regarded life science leaders, to our board of directors. Together, these milestones bring us closer to potentially providing new options to the deaf and hard-of-hearing community, who have limited therapeutic options today.”