Decibel Therapeutics said today it landed an investment from GV, formerly Google Ventures.
GV agreed to make an equity investment in the Boston-based company and lend its capabilities in big data sciences and analytics to Decibel’s efforts in developing therapies for hearing loss and tinnitus.
“We are delighted to work with GV to amplify our commitment to develop new therapies for hearing loss and tinnitus by leveraging GV’s world-leading big data sciences and informatics capabilities,” president & CEO Steven Holtzman said in prepared remarks. “Elucidating the complex and multifactorial biological basis for hearing loss amidst an extraordinarily large and diverse population requires the application of advanced big data sciences to collect, analyze, and interpret massive data sets. GV excels at working with leading biotechnology companies where big data sciences will aid in the discovery of transformative medicines and we look forward to working together in our quest to create a world in which the benefits and joys of hearing are available to all.”
“Decibel is collaborating with a variety of organizations in the hearing space to assemble a constellation of rich data sets comprising audiometric, genomic, and phenotypic data. We believe these data hold promising insights which will accelerate the discovery of novel therapeutics,” Decibel’s chief data sciences officer, John Keilty, added. “GV will not only help shape our overall strategy for big data analytics, but will also provide technical guidance in a myriad of areas, including the use of cutting edge techniques to augment more traditional means of biological target identification.”
“As we continue to seek out companies that push the edge of what’s possible, we are excited to work with Decibel and bring our full support to a company committed to changing lives for the better,” GV venture partner Anthony Philippakis said. “Decibel brings some of the preeminent experts in the field of hearing, and this relationship aligns highly with our philosophy of investing in and advising companies that can bring potential life-changing therapies to millions of people.”
Decibel describes themselves as the world’s first comprehensive drug discovery, research, development and delivery platform to “protect, repair and restore hearing.”
Steve MacMillan took over as CEO of Hologic in 2013, drawing on his experience at medtech titans like Stryker and Johnson & Johnson. Since then, Hologic has grown into a $3 billion business.
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