Otonomy Names Bay Area’s David A. Weber as CEO
San Diego’s Otonomy, a two-year-old startup developing novel drug therapies for Meniere’s disease and other disorders of the inner ear, today named David A. Weber as president, CEO, and board member. Avalon Ventures managing director Jay Lichter, who co-founded Otonomy and served as CEO until now, is returning to his role as investor and director.
Weber was the founding CEO of MacuSight, a venture-backed startup in Union City, CA, developing treatments for ocular disorders, and he is a director at On Demand Therapeutics, a Menlo Park, CA, venture developing implantable drug delivery technology for use in opthalmology. Otonomy will remain in San Diego, Lichter told me by e-mail this morning.
Otonomy, which raised $38.5 million in August, has raised a total of $48.5 million since it was founded in 2008.”Otonomy is moving aggressively to complete IND enabling activities for our second product, OTO-201, and the proceeds from our recently completed Series B financing provide us with the resources to advance a third program into clinical development,” Weber said in a statement from the company. Investors include San Diego’s Avalon Ventures, Novo Ventures, RiverVest Venture Partners, TPG Biotech, and Domain Associates.