Otonomy lands $38.5M for ear disorder work

San Diego-based Otonomy has closed a $38.5 million Series B financing. Novo Ventures and RiverVest Venture Partners co-led the round with help from Domain Associates and TPG Biotech. Otonomy previously raised $10 million in June, bringing its total 2010 haul to $48.5 million.  Otonomy's lead product is OTO-104. This sustained-release steroid is being evaluated in a Phase Ib trial as a treatment for Meniere's disease, a condition that can affect...

Igenica leads a trio of new venture rounds

There's a trio of new biotech financing rounds to report today. Igenica, a cancer antibody start-up based in Burlingame, CA, is reporting that it raised $24 million in a Series B. The new round was led by The Column Group, OrbiMed Advisors and 5AM Ventures. Launched a little more than a year ago, Igenica says it uses two technology platforms to generate tumor antigens and antibody candidates for cancer. "Igenica's technology is ideally positioned to develop cancer antibodies that will function...