Akouos Acquisition, Valuation, Funding & Investors

Akouos was acquired by Eli Lilly for $610M in October 2022.

Akouos acquisition price

$610M

Acquired by Eli Lilly · Oct 2022

Cumulative funding Akouos raised

$163M

across 3 funding rounds

Key investors in Akouos

  • New Enterprise Associates
  • 5AM Ventures
  • Partners Innovation Fund
  • RA Capital Management
  • Novartis Venture Fund
  • Sofinnova Investments
  • Pivotal bioVenture Partners

Akouos Overview

About Akouos

Akouos is a Boston-based biotechnology firm developing precision gene therapies using adeno-associated virus vectors to restore hearing in patients with sensorineural hearing loss from genetic mutations, ototoxic drugs, or age-related causes. Acquired by Eli Lilly in 2022, its pipeline targets genetically defined populations for inner ear treatments.


Founded

2016

HQ

United StatesBoston, MA

Website

akouos.com

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$610M (acquired Oct 2022)

Akouos Acquisition

Akouos was acquired by Eli Lilly for $610M on 18 October 2022.

Before the acquisition Akouos had raised $163M across 3 funding rounds.

Akouos acquisition details
AcquirerDateTypePrice
18 Oct 2022Strategic M&A$610M

Akouos Funding History

Akouos has raised a total of $163M across 3 funding rounds.

Akouos' first fundraising round was a $8M seed round in November 2017. The most recent completed round was a $105M Series B in March 2020.

Akouos funding rounds

Akouos funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2020Series BPivotal bioVenture Partners (lead)$105MAkouos is a precision genetic medicine company developing gene therapies to restore, improve, or preserve hearing, focusing on inner ear disorders using proprietary ancestral AAV vectors and minimally invasive delivery approaches. Its lead program, AK-OTOF, targets OTOF-mediated hearing loss, with plans for an IND submission to the FDA in 2021 and preliminary clinical data in 2022. On approximately March 31, 2020, Akouos raised $105 million in an oversubscribed Series B financing round led by Pivotal bioVenture Partners, with participation from new investors Cormorant Asset Management, Cowen Healthcare Investments, and Polaris Partners, as well as existing investors 5AM Ventures, NEA, Novartis Venture Fund, and Partners Innovation Fund. The proceeds were intended to advance AK-OTOF to first-in-human clinical studies and support additional preclinical programs. Three months after the Series B, in June 2020, Akouos completed an upsized initial public offering, selling 14,375,000 shares at $17.00 per share for gross proceeds of $244.4 million (net $223.8 million), providing a strong cash position of $333.0 million as of June 30, 2020. Pivotal bioVenture Partners Fund I acquired approximately 1,794,088 shares valued at around $24 million as of June 30, 2020, representing about 10% ownership based on SEC filings. The company reported increased R&D expenses in Q2 2020 due to manufacturing, preclinical studies for AK-OTOF, employee growth, and facility costs, alongside G&A expenses of $2.7 million for the quarter.
Aug 2018Series A5AM Ventures (lead); New Enterprise Associates (lead); Novartis Venture Fund; RA Capital Management; Sofinnova Investments; Partners Innovation Fund$50MAkouos, a Boston-based precision genetic medicine company, develops gene therapies using targeted adeno-associated viral (AAV) vectors to restore, improve, and preserve hearing for individuals with sensorineural hearing loss, particularly monogenic forms causing profound deafness in newborns and affecting many adults over 65. Akouos originated from partnerships with Massachusetts Eye and Ear and Lonza, positioning it to address the unmet need in hearing loss treatment, where no FDA-approved therapies existed at the time. The company, founded in 2016, announced a $50 million Series A financing round on approximately January 8, 2018, led by 5AM Ventures and New Enterprise Associates, with participation from existing seed investor Partners Innovation Fund and new investors Sofinnova Investments, RA Capital Management, and Novartis Venture Fund. Funds were allocated to advance the lead program into first-in-human clinical trials and expand the pipeline. The company went public in June 2020, raising $124 million in its IPO. Total funding reached figures like $137.6M or $368M across multiple rounds, with a later round of $213M noted.
Nov 2017Seed5AM Ventures (lead); New Enterprise Associates (lead); Partners Innovation Fund$8MAkouos is a biotechnology company founded in 2017 focused on developing gene therapies to restore and preserve hearing. The company was launched by Dr. Manny Simons as a precision genetic medicine platform focused on sensorineural hearing loss, which affects approximately 360 million people worldwide with no FDA-approved therapies available. In November 2017, Akouos closed a $7.5 million seed round co-led by 5AM Ventures and New Enterprise Associates, with participation from Partners Innovation Fund. Concurrent with the financing, the company established strategic license agreements with Lonza and Massachusetts Eye and Ear for exclusive rights to the Anc-AAV gene therapy platform for all hearing and balance disorders. The company was established with a founding team including Dr. Manny Simons (CEO), Dr. Michael McKenna, Dr. William Sewell, and Dr. Luk Vandenberghe, bringing expertise in neurotology, genetics, inner ear drug delivery, and AAV gene therapy. As a newly launched company at the time of the seed round, Akouos had no disclosed revenue or EBITDA metrics. The funding was intended to support the development of the company's AAV-based gene therapy platform and advance its research programs targeting genetic forms of hearing loss.

Who has invested in Akouos?

7 investors have backed Akouos across its funding rounds, including New Enterprise Associates, 5AM Ventures, Partners Innovation Fund, RA Capital Management, Novartis Venture Fund and Sofinnova Investments.

Lead investors include Pivotal bioVenture Partners, 5AM Ventures and New Enterprise Associates.


Akouos Investors

Investors in Akouos by funding rounds participated
InvestorHQRoundsRoleFirst check
5AM VenturesUnited StatesUnited States2LeadNov 2017
New Enterprise AssociatesUnited StatesMenlo Park, CA2LeadNov 2017
Partners Innovation FundUnited StatesBoston, MA2ParticipantNov 2017
Novartis Venture FundSwitzerlandBeijing1ParticipantAug 2018
RA Capital ManagementUnited StatesBoston, MA1ParticipantAug 2018

This data is available for Pro users. Sign up to see all 7 Akouos investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Akouos Competitors

Akouos competitors include listed companies like Helus Pharma, Faeth Therapeutics and Morepen Laboratories, and private ones like Geneoscopy, Galvanize Therapeutics and BrightInsight.

Public and private companies comparable to Akouos
CompanyHQStatusRevenueEBITDAValuation
Helus PharmaCanadaCanadaPublicly listed-($153M)$664M
GeneoscopyUnited StatesSaint Louis, MOPrivate--$630M
Galvanize TherapeuticsUnited StatesSan Francisco, CAPrivate--$650M
Faeth TherapeuticsUnited StatesUnited StatesPublicly listed-($22M)$570M
Morepen LaboratoriesIndiaIndiaPublicly listed$191M$18M$536M
BrightInsightUnited StatesSan Francisco, CAPrivate--$750M

Akouos Public Comps

Akouos is no longer listed, but its public comps include Chong Kun Dang Pharmaceutical, Avalon Pharma, Climb Bio, Aclaris Therapeutics, Innova Captab, TTY Biopharm, Supriya Lifescience, Genfit, Apnimed and SK Chemicals.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Chong Kun Dang Pharmaceutical$1.3B$93M0.6x0.5x7.5x7.8x
Avalon Pharma$123M$34M5.1x4.5x18.2x18.3x
Climb Bio-($68M)--(5.9x)(5.9x)
Aclaris Therapeutics$8M($72M)64.4x75.6x(7.0x)-
Innova Captab$170M$26M3.8x3.2x25.0x21.6x
TTY Biopharm$196M$69M3.0x2.9x8.4x-
Supriya Lifescience$85M$32M6.9x6.0x18.5x17.3x
Genfit$73M($95M)9.1x7.7x(7.0x)34.9x

This data is available for Pro users. Sign up to see all Akouos competitors and their valuation data.

Start Free Trial

Common questions about Akouos

When was Akouos founded?Akouos was founded in 2016.
Where is Akouos headquartered?Akouos is headquartered in Boston, MA, United States.
Is Akouos publicly listed?No, Akouos was acquired by Eli Lilly in October 2022.
Who acquired Akouos?Akouos was acquired by Eli Lilly in October 2022.
How much was Akouos acquired for?Akouos was acquired for $610M in October 2022.
How much funding has Akouos raised?Akouos has raised $163M across 3 funding rounds.
What was Akouos' last funding round?Akouos' last funding round was a $105M Series B in March 2020, led by Pivotal bioVenture Partners.
Who are Akouos' investors?Akouos' investors include 5AM Ventures, New Enterprise Associates, Partners Innovation Fund, Novartis Venture Fund, RA Capital Management, Pivotal bioVenture Partners and Sofinnova Investments.
Which companies are comparable to Akouos?Companies comparable to Akouos include Helus Pharma, Geneoscopy, Galvanize Therapeutics, Faeth Therapeutics, Morepen Laboratories and BrightInsight.

See companies similar to Akouos

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial