Auris Medical ‘delays’ IPO

Auris announced the terms for its planned IPO in mid-July, with the intention to float on the Nasdaq on August 1st.

When contacted for comment, an Auris spokesperson stated that it had cancelled last week's IPO and would be trying again this week.

Sofinnova Ventures currently has a 19.3% stake in the company, while Sofinnova Partners has an 18.6% share.

French venture capital firm Sofinnova Partners joined US-based Sofinnova Ventures in a CHF 47.1m funding round in April 2013. The funding was split equally between the two investors, with Sofinnova Partners committing capital from its seventh fund.

In 2008, AGF Private Equity, ZKB Pharma Vision Fund, Lacuna Apo Biotech Fund and an industrial company injected approximately €7.4m into the firm.

Founded in 2003 and headquartered in Zug, Auris is a biotech dedicated to cochlear disorders. It is currently developing treatment for acute inner ear tinnitus and acute inner ear hearing loss, as well as pursuing early-stage research and development projects.

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