Otomagnetics

What Otomagnetics does

Otomagnetics, Inc. is a privately-held, pre-clinical biotechnology company headquartered in Gaithersburg, Maryland that is developing a non-invasive drug delivery platform built around a proprietary magnetic injector device paired with biodegradable magnetic nanoparticles composed of FDA-approved materials. The platform is designed to carry drugs, proteins, or gene therapies across biological barriers and deliver them to inner ear (cochlea), middle ear, eye (retina), and skin targets, with demonstrated efficacy in animal models for inner ear drug delivery, non-invasive middle ear delivery without eardrum puncture, and otoprotection during cisplatin/carboplatin chemotherapy regimens. The company's core technical claims address well-defined unmet needs: bypassing the blood-labyrinth barrier to treat hearing loss and tinnitus, eliminating surgical intervention for chronic middle ear infections, and avoiding needle-based ocular injections for conditions such as age-related macular degeneration and glaucoma. Lead applications target pediatric oncology ototoxicity, ENT specialists, ophthalmologists, and pharmaceutical partners seeking to differentiate proprietary compounds through novel delivery.

The business is pre-revenue and pre-FDA, with technology validated only in animal studies. Revenue economics are expected to flow from licensing the platform to pharmaceutical companies and from co-development arrangements rather than from direct product sales, making the company a platform-licensing play rather than a product company. Capital formation has relied on a mix of public-sector grants (notably a $2.3M Fast Track NIH/NCI SBIR Contract in October 2017), state seed investment from TEDCO, angel syndicates via AngelMD, and a $2.33M Series A in February 2020. Go-to-market motion is sales-led and partnership-driven, targeting enterprise pharma licensing counterparties. Multiple pharmaceutical companies are reported to have expressed interest in deploying the platform for ear and eye targets, though no commercial agreements are announced. The management team is small (1-10 employees), led by CEO Abhita Batra (appointed March 2018), with co-founder Benjamin Shapiro and a deep advisory bench including former Otonomy CCO Tony Yost and American Eye Association President Alexander Kabiri.

Name

Otomagnetics

Legal name

Otomagnetics, Inc.

Website

https://otomagnetics.net

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Otomagnetics is a pre-clinical, pre-revenue biotech developing a proprietary magnetic injector combined with biodegradable nanoparticles for non-invasive delivery of drugs, proteins, and genes to inner ear, middle ear, eye, and skin targets, with the platform positioned for licensing and co-development partnerships with pharmaceutical companies.

Ownership category

akta.pro rank

Product category

Drug Delivery Technology

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Research and Development in Nanotechnology (541713)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Nasal Drug Delivery Devices (Sprays/Powder Devices) (HLAHAIAK)

Keywords

• Magnetic drug delivery
• Non-invasive therapeutics
• Biodegradable nanoparticles
• Inner ear therapy
• Ocular drug delivery

Headquarters

HQ city

Bethesda

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Platform Technology Licensing: Pre-commercial stage company developing a magnetic drug delivery platform technology. Revenue model will likely involve licensing the platform to pharmaceutical companies for drug delivery applications.
2. Co-development Partnerships: Partnerships with pharmaceutical companies for co-development of therapies using the magnetic delivery platform for specific drug compounds.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Otomagnetics develops a Magnetic Injection Delivery System pairing a proprietary magnetic injector with biodegradable magnetic nanoparticles (made from FDA-approved materials) that carry drugs, proteins, or genes for non-invasive delivery to inner ear, middle ear, eye, and skin. The platform has demonstrated animal-model efficacy for inner ear delivery across the blood-labyrinth barrier and middle ear delivery without eardrum puncture, and is being positioned for licensing and co-development with pharmaceutical partners.

Product overview

Otomagnetics is developing a single unified drug delivery platform called the Magnetic Injection Delivery System. The platform consists of a proprietary magnetic injector device combined with biodegradable magnetic particles (composed solely of materials approved by the FDA for injection into the body) that can carry essentially any therapy including drugs, proteins, or genes. The technology enables non-invasive delivery of therapeutic payloads to inner ear (cochlea), middle ear, eye (retina), and skin targets that are otherwise difficult to reach or require surgery. Animal studies have demonstrated safety and efficacy for treating hearing loss, tinnitus, middle ear infections, protecting hearing from chemotherapy regimens, and delivering therapy to the retina without needles. The company has garnered interest from multiple pharmaceutical companies seeking to deliver their proprietary compounds non-invasively to ear and eye targets. The technology is in early stage development and has not been approved by the FDA.

Differentiator

Problem solved

Functional benefit

Products and services

• Magnetic Injection Delivery System A preclinical drug delivery platform combining a proprietary magnetic injector device with biodegradable magnetic nanoparticles composed of FDA-approved injectable materials. Designed to carry drugs, proteins, or genes and deliver them non-invasively to inner ear (bypassing the blood-labyrinth barrier), middle ear (without eardrum puncture), eye, and skin. Targeted at pharmaceutical partners seeking to differentiate their proprietary compounds through non-invasive delivery. Technology is not yet FDA-approved.

Quantifiable outcome

• Prevalence of cisplatin-induced ototoxicity approximately 60-70% in pediatric patients
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and support.

• Action on Hearing LosscoreStrategic or Co-development PartnerUK-based charity organization advocating for people with hearing loss. Partner in advancing hearing health goals and technology development for hearing conditions.
• AngelMDcoreStrategic or Co-development PartnerHealthcare investment platform providing both capital and network connections for biotech companies. AngelMD has invested in Otomagnetics and continues as a strategic partner.
• Children's National Medical CentercoreStrategic or Co-development PartnerWashington D.C. area children's hospital specializing in pediatric care. Partnership for developing pediatric cancer drug delivery applications.
• University of MarylandcoreStrategic or Co-development PartnerState university partnership for research collaboration, technology development, and access to academic expertise in biotech and medical fields.
• FrontagesupportStrategic or Co-development PartnerContract research organization providing laboratory services and expertise supporting drug development and formulation work.
• AdvaMedsupportStrategic or Co-development PartnerAdvanced Medical Technology Association representing medical technology companies and providing industry advocacy and connections.
• Weinberg Medical PhysicssupportTechnology or IntegrationMedical physics research group providing technical expertise and collaboration in medical device development.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Otonomy: Specialty biopharmaceutical company developing and commercializing therapeutics for ear disorders, including inner ear conditions. Directly comparable as the most established player in Otomagnetics' primary ear-targeted use cases; Tony Yost, an Otomagnetics advisor, is Otonomy's former CCO.
• Frequency Therapeutics: Clinical-stage biotech developing regenerative therapies for hearing loss. Directly comparable in targeting inner ear conditions and pursuing novel delivery approaches for hearing restoration, sharing Otomagnetics' otology focus.
• Decibel Therapeutics: Biotech developing therapeutics to protect, repair, and restore hearing, with programs targeting the inner ear. Directly comparable as a gene- and small-molecule-based inner ear therapeutics developer addressing similar indications.
• Clearside Biomedical: Biopharmaceutical company developing drug therapies for blinding eye diseases using a proprietary suprachoroidal drug delivery platform. Directly comparable as an ocular drug delivery innovator serving retinal disease indications overlapping Otomagnetics' eye use cases.
• Graybug Vision: Clinical-stage biopharmaceutical company developing innovative drug delivery technologies for ocular diseases including wet AMD and glaucoma. Comparable as an eye drug delivery platform company pursuing similar ophthalmology indications.
• Ocular Therapeutix: Biopharmaceutical company developing therapies for eye diseases using proprietary hydrogel-based drug delivery technologies. Comparable as an ocular drug delivery platform serving glaucoma, AMD, and other retinal conditions.
• Auris Medical: Clinical-stage biopharmaceutical company developing intranasal betahistine for vertigo and tinnitus, plus other inner ear therapeutics. Directly comparable in targeting inner ear indications and exploring non-invasive delivery approaches.

Emerging players

• Pipeline Therapeutics: Biotech focused on developing neuroregenerative therapies for hearing loss and other neurological conditions. Comparable as an emerging player pursuing inner ear regeneration, overlapping with Otomagnetics' otology use cases.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/otomagnetics
• Facebookfacebook.com/otomagnetics
• LinkedInlinkedin.com/company/11036284

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Otomagnetics