ZUG, Switzerland, Oct. 23, 2015 (GLOBE NEWSWIRE) -- Auris Medical Holding AG (NASDAQ: EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology, today announced a drug discovery collaboration with King's College London, UK. Professor David E. Thurston of the Institute of Pharmaceutical Science will lead a team at King's to develop and optimize a range of specific small molecules for Auris Medical's AM-102 project. The AM-102 compounds bind to a novel, undisclosed drug target for treating certain types of tinnitus. The collaboration project draws on earlier work performed for Auris Medical by the Wolfson Centre for Age-Related Diseases at King's under the leadership of Professor Patrick Doherty and Dr Gareth Williams.
"We are very excited to continue and expand the collaboration for our AM-102 project with King's College London", commented Thomas Meyer, Auris Medical's founder, Chairman and CEO. He added: "Drawing on our research partners' unique experience and great skills in drug discovery, we expect the collaboration to take us one important further step forward towards the development of a potent second generation tinnitus treatment." From the research project Auris Medical aims to select a lead compound for further preclinical and subsequent clinical development. The drug target for AM-102 was identified and validated previously through a collaboration with another leading research institution. It is different from the drug target for AM-101, Auris Medical's late-stage investigational tinnitus treatment.
Professor Peter Hylands, Head of the Institute of Pharmaceutical Science at King's College London, said: "This latest of a series of commercial collaborations demonstrates the breadth and depth of our research capability and the great demand for our expertise in discovery and development".
About inner ear tinnitus
Tinnitus, the perception of sound without external acoustic stimulation, is a symptom common to various ear or other diseases. Inner ear tinnitus may be provoked by various injuries to the cochlea, the organ of hearing, such as overexposure to noise or inflammation. It may be short and just transitory; however, it may also become permanent. Tinnitus of less than three months of duration is considered acute, while older tinnitus is considered chronic.
Inner ear tinnitus may be only a slight nuisance, but often it has a serious impact on the ability to sleep, relax, or concentrate, or it may lead to tiredness, irritation, nervousness, despair, frustration, or even depression. As of today, there exists neither a universal standard of care for acute inner ear tinnitus, nor a truly proven, effective treatment method.
About Auris Medical
Auris Medical is a Swiss biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in otolaryngology. The Company is currently focusing on the development of treatments for acute inner ear tinnitus (AM-101) and for acute inner ear hearing loss (AM-111) by way of intratympanic injection with biocompatible gel formulations. In addition, Auris Medical is pursuing early-stage research and development projects. The Company was founded in 2003; it is headquartered in Zug, Switzerland.
About King's College London
King's College London is one of the top 20 universities in the world (2015/16 QS World University Rankings) and among the oldest in England. King's has more than 26,500 students (of whom nearly 10,400 are graduate students) from some 150 countries world-wide, and nearly 6,900 staff. The university is in the second phase of a £1 billion redevelopment programme which is transforming its estate.
For more information about King's please visit 'King's in Brief' (www.kcl.ac.uk/newsevents/About-Kings.aspx).
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 fact 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," 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, the timing and conduct of clinical trials of Auris Medical's product candidates, 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 prospectus relating to its Registration Statement on Form F-1, as amended, 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.
Auris Medical contacts:
Company: Dr. Thomas Meyer, Chairman and CEO, +41 41 729 71 94, email@example.com
Investors: Matthew P. Duffy, Managing Director, LifeSci Advisors, 212-915-0685, firstname.lastname@example.org
Auris Medical King's College London Collaborate http://hugin.info/160190/R/1960996/714971.pdf
Source:Auris Medical AG