Akouos, a Boston, MA-based new biotechnology startup focused on restoring and preserving hearing has raised $7.5 million in seed funding led by 5AM Ventures and New Enterprise Associates (NEA), with participation from Partners Innovation Fund. Spun out of Harvard Innovation Labs in 2017, Akouos is developing novel therapies and delivery systems to prevent hearing loss and restore hearing in genetically defined patient populations.
In addition to the seed round of funding, Akouos has entered into strategic license agreements with Lonza and Massachusetts Eye and Ear for exclusive rights to the Anc-AAV gene therapy platform for all hearing and balance disorders. Anc-AAVs are in silico-designed adeno-associated viral vectors (AAVs), first developed in the laboratory of Dr. Luk H. Vandenberghe, Assistant Professor of Ophthalmology at Harvard Medical School, and Director of the Grousbeck Gene Therapy Center at Massachusetts Eye and Ear.
Under the terms of the agreements, Akouos obtains an exclusive field license to the Anc-AAV IP estate and broad sublicensing rights. Building upon an existing Anc-AAV partnership between Massachusetts Eye and Ear and Lonza, the agreement with Akouos is designed to accelerate AAV gene therapy development for hearing and balance disorders by bringing together world class expertise and resources in hearing science research and development, clinical research, and AAV manufacturing.
Read Entire Article: http://hitconsultant.net/2017/12/04/akouos-seed-funding/