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Auris Medical Announces Notice of Allowance for European Patent Application

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  • Received "Intention to Grant" notice from European Patent Office
  • Application covers invention of oral treatment for tinnitus

Hamilton, Bermuda, January 10, 2020 – Auris Medical Holding Ltd. (NASDAQ:EARS), a clinical-stage company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders, today announced that the European Patent Office (EPO) has issued a notice of "Intention to Grant" for its patent application entitled "Treatment of Tinnitus Through Modulation of Chloride Co-Transporter NKCC1 in the Auditory System" (European Patent Application 11 894 529.3).

The allowed claims cover compounds modulating the sodium potassium chloride co-transporter 1 (NKCC1) for use in the oral treatment or prevention of tinnitus. As demonstrated in an animal model of acute noise trauma, administration of an NKCC1 inhibitor resulted in a significant reduction of a biomarker for the presence of tinnitus (p<0.02). Inhibition of NKCC1 reduces trauma-induced excessive intracellular chloride ion levels in inner hair cells and the resulting neural hyperexcitability in the auditory system, which underlies the perception of tinnitus.     

The communication from the EPO concludes substantive examination of the patent application, which is now expected to issue as a patent once the issue fees are paid and the patent office concludes its respective administrative procedures. A corresponding patent application is currently pending before the US Patent and Trademark Office (USPTO) and was already granted in Japan.

"We are very pleased with this new addition to our patent estate in tinnitus, which remains an area of great unmet medical need", commented Thomas Meyer, Auris Medical's founder, Chairman and CEO. "NKCC1 represents a new and promising target for tinnitus therapy, particularly because it may allow for oral treatment and thus complement Keyzilen®, our investigational tinnitus drug for intratympanic administration. We intend to develop a proprietary NKCC1 inhibitor through our new subsidiary, Zilentin Ltd., which we recently established in order to bundle our activities and assets within the therapeutic areas of tinnitus and hearing loss."

About Auris Medical

Auris Medical is a biopharmaceutical company dedicated to developing therapeutics that address important unmet medical needs in neurotology and central nervous system disorders. The company is focused on the development of intranasal betahistine for the treatment of vertigo (AM-125) and for the treatment of antipsychotic-induced weight gain and somnolence (AM-201). These projects have gone through two Phase 1 trials and entered into proof-of-concept studies in 2019. In addition, Auris Medical has two Phase 3 programs under development: Sonsuvi® (AM-111) for acute inner ear hearing loss and Keyzilen® (AM-101) for acute inner ear tinnitus. The Company was founded in 2003 and is headquartered in Hamilton, Bermuda. The shares of Auris Medical Holding Ltd. trade on the NASDAQ Capital Market under the symbol "EARS."

Forward-looking Statements

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 facts 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," or the negative of these terms 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, Auris Medical's need for and ability to raise substantial additional funding to continue the development of its product candidates, the timing and conduct of clinical trials of Auris Medical's product candidates and that such trials will not meet their endpoints , 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 Annual Report on Form 20-F for the year ended December 31, 2018 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.

Investor contact:
Joseph Green
Edison Advisors for Auris Medical
646-653-7030
jgreen@edisongroup.com   

Or

investors@aurismedical.com  

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