Cilcare

About the deal

Montpellier, December 4, 2024 – Cilcare, a biotechnology company specializing in auditory sciences, today announced the closing of its €40 million Series A funding round, including €21 million raised during the latest round. This fundraising attracted new investors such as SHIONOGI & CO., LTD., Sprim Global Investments Pte. Ltd, along with existing investors like Sofilaro, ARIS, SudPME, and UVM Health Capital.

This funding will enable Cilcare to initiate two Phase 2a clinical trials in 2025 across Europe and the United States for its lead candidate, CIL001, a treatment targeting cochlear synaptopathy. This underdiagnosed condition, often referred to as “hidden hearing loss” because it remains undetectable with standard audiograms, threatens over one billion young people and affects 10-15% of adults. Associated with the early stages of age-related hearing loss, cochlear synaptopathy is exacerbated by noise exposure and results in difficulties understanding speech in noisy environments, tinnitus, and hyperacusis. Patients often report significant fatigue and the need for intense concentration, and without treatment, the condition inevitably progresses to deafness.

Currently, Cilcare is the only company focusing on developing therapies for this early-stage auditory pathology, leveraging AI-driven detection methods that have never been explored before.