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HEALTHCARE | Drug Delivery
otomagnetics.net

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Stage

Series A | Alive

Total Raised

$1.39M

Last Raised

$1.03M | 4 yrs ago

About Otomagnetics

Otomagnetics, a University of Maryland College Park spin-out, is developing a non-invasive method to effectively deliver drugs and other therapeutic payloads to inner and middle ear compartments, to the eye, and into the skin. The inner ear is behind the blood-labyrinth barrier – vessels that supply blood to the inner ear have walls that are impermeable to most drug molecules, and thus it is a challenge to deliver therapy to treat inner ear diseases. In animal models, Otomagnetics' proprietary magnetic injection system has demonstrated drug delivery to the inner ear. It has also shown improved dosing and therapeutic effect in preclinical models of tinnitus and noise-induced hearing loss, and prevented hearing loss due to chemotherapy regimens.

Otomagnetics Headquarter Location

12156-B Parklawn Drive

Rockville, Maryland, 20852,

United States

301-405-4191

Latest Otomagnetics News

Under CEO Abhita Batra, Leading Biotech Startup Otomagnetics, Inc. is Experiencing Exponential Growth

Aug 7, 2020

In the midst of widespread economic and social disruption this cutting edge company has been praised by expert analysts. WASHINGTON, DC, UNITED STATES, August 6, 2020 / EINPresswire.com / — Cutting edge biotechnology startup, Otomagnetics Inc. has investors and financial analysts buzzing due to its innovative technology which provides effective, non-invasive magnetic drug delivery solutions that have the potential to effectively improve millions of patients´ lives. From an early age, Abhita Batra (CEO of Otomagnetics) was actively and consistently exposed to the inner workings of business, entrepreneurship and the unfathomable potential held by successful biotechnological endeavors; As a youth, Abhita envisioned a vivid journey into the future of human healthcare that promises substantial, measurable and scalable benefits. Immediately after joining Otomagnetics as its Chief Executive Officer the immense potential and substantial responsibility that comes with unbridled innovation was clear; Amongst savvy venture capitalists, investment bankers and seasoned investors, the company has become a hot topic. The young and successful scientist and business leader holds a Global MBA from UCLA and a Masters in Biotechnology with specialization in Pharmaceutical Sciences from University of Pennsylvania; Batra is also a distinguished member of the Forbes Business Councils. The cutting-edge technology championed by Otomagnetics, Inc was successfully developed at the University of Maryland out of the Fischell Department of BIoengineering (BioE) and Institute for Systems Research (ISR) in 2013 – has the potential to dramatically effect the vector of global healthcare. Perhaps one of its most impactful applications is the unrivaled potential this technology holds to dramatically improve the lives of cancer survivors – especially children. With advancements in cancer treatment, more children survive their battle with childhood cancers. Loss of hair, nausea, and vomiting are well known secondary effects. Hearing loss is a less known secondary effect with the potential to disrupt the quality of life for 80% of children after treatment. If a delivery platform such as the one developed by the burgeoning biotech startup could be used to deliver medication that would protect the inner and middle ear from damage, across the blood barrier in a non-invasive way, it could prevent hearing loss in thousands of children. Under Abhita Batra´s efficient leadership, Otomagnetics has successfully raised several million dollars in seed capital and secured a myriad of strategic commercial and development partnerships. In 2017, Otomagnetics was awarded a $2.3 million Fast Track NIH/NCI SBIR Contract to develop a pediatric cancer drug delivery system to prevent hearing loss from chemotherapy regimens. “We are honored and excited to be working closely with the National Institutes of Health to address a pressing clinical need,” said Otomagnetics President and Co-Founder Benjamin Shapiro. “There should not have to be a choice between effective chemo and lifelong hearing loss. Our technology has the potential to allow treatment by chemotherapy without the attendant risk of hearing loss.” Earlier this year Otomagnetics also received additional investment through AngelMD’s Catalyst Fund. They received a Montgomery County Small Business Innovation Research (SBIR) Phase I Matching Grant in September. What excites investors and clinicians alike is the potential to eliminate hearing loss for children undergoing chemotherapy and solve for an unmet clinical need. As the modern world continues to search for more effective solutions across every major industry, companies like Otomagnetics have effectively positioned themselves at the forefront of an irreversible global healthcare revolution. TEA Strategic Media

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Expert Collections containing Otomagnetics

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Otomagnetics is included in 3 Expert Collections, including Medical Devices.

M

Medical Devices

7,884 items

Companies developing medical devices (per the IMDRF's definition of "medical device"). Includes software, lab-developed tests (LDTs), and combination products. *Columns updated as regularly as possible.

B

Biopharmaceuticals

5,882 items

Companies involved in the research, development, and commercialization of chemically- or biologically-derived therapeutic & theranostic drugs. Excludes vitamins/supplements, CROs/clinical trial services.

C

Cancer

3,605 items

Companies researching, developing, or offering products & services that aid in the screening, prevention, diagnosis, management, and treatment of cancer.

Otomagnetics Patents

Otomagnetics has filed 3 patents.

The 3 most popular patent topics include:

  • Amines
  • Biotechnology
  • Dosage forms
patents chart

Application Date

Grant Date

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Related Topics

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10/30/2015

Magnetic ordering, Drug delivery devices, Dosage forms, Monoclonal antibodies, Experimental cancer drugs

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Related Topics

Magnetic ordering, Drug delivery devices, Dosage forms, Monoclonal antibodies, Experimental cancer drugs

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