The second spin-out to emerge after GlaxoSmithKline PLC's 2010 exit from neurosciences-related R&D, Autifony Therapeutics Ltd. may receive up to £10 million in Series A funding from Imperial Innovations Group and SV Life Sciences to develop preclinical assets for hearing disorders. [See Deal][See Deal] News of the start-up was announced August 22, nearly a year after GSK spun out pain-focused Convergence Pharmaceuticals Ltd. in October 2010. [See Deal][See Deal] Convergence raised $35.4 million in one of Europe's largest Series A rounds, from a syndicate led by Apposite Capital that also included SV Life Sciences. ( See "GSK Spins Out Pain Assets Into Convergence," START-UP , October 2010 [See Deal].)
While Convergence boasted two clinical-stage compounds, Autifony's assets – a series of small molecules targeting voltage-gated ion channels – are...
