Otolith Labs Closes $20 Million Series A Financing

Otolith Labs announced the closing of a $20 million Series A financing round by Morningside Ventures.

The proceeds will be used to support its ongoing clinical programs and the commercial launch of a prescription wearable device using its noninvasive Vestibular System Masking (nVSM) technology for the treatment of chronic vertigo, which is a condition that prevents people from performing activities of daily living and has significant quality of life and economic impact.

Otolith Labs’ nVSM technology is to provide immediate symptom relief for chronic vertigo, applying localized mechanical stimulation to the vestibular system through calibrated vibrations.

The company received U.S. FDA Breakthrough Device Designation last year for the prescription treatment of chronic vertigo. Breakthrough Device Designation is only granted for devices that address an unmet need and show the potential to provide more effective treatment of life-threatening diseases or irreversibly debilitating conditions and can accelerate the development, assessment, and review of medical devices for pre-market approval.