- Published on 24 July 2017
In a statement released in early July, Decibel Therapeutics CEO, Steve Holtzman, said that GV has made an unspecified equity investment in the Boston-based company, reports Endpoints News.
The investment is two-fold because the venture group is not only supporting the company financially but is also contributing via its know-how in the area of analyzing large volumes of data. This is important for Decibel Therapeutics which relies on this type of tool to guide its development strategy in a therapeutic research sector that is still finding structure: hearing loss and tinnitus.
In the statement, Holtzman said: “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 datasets.” Talking about the collaboration with GV, he added that: “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 indicated that it is working with a range of organizations in the hearing sector to build a broad collection of datasets comprising audiometric, genomic, and phenotypic data. The company believes that these data will provide promising insights that will help to accelerate the discovery of novel treatment modalities in hearing loss.
GV is a venture capital investment group that provides seed, venture, and growth-stage funding to leading-edge companies. Since 2009, GV has invested in more than 300 companies in the fields of the life sciences, healthcare, artificial intelligence, robotics, transportation, cyber security, and agriculture.
Source:Endpoints News; GV; Decibel Therapeutics, Inc.