A Medical Device Daily
Allied Minds (Boston) has established SoundCure (Irvine, California) to improve the lives of people suffering from tinnitus.
A seed investment company specializing in early stage university business ventures, Allied Minds will provide the initial funding and has partnered with the University of California Irvine to establish SoundCure to commercialize a therapy for the treatment and suppression of tinnitus originally developed at UC Irvine.
Tinnitus is a debilitating disease characterized by a ringing in the ear in the absence of any external sound. It is believed that more than 17% of the general population suffers from tinnitus and based on a recent report from the Department of Veterans Affairs, tinnitus is now the No. 1 disability affecting returning troops.
While tinnitus can affect anyone, it is more common with increasing age and occurs at higher rates with individuals who work in noisy environments or listen to loud music for prolonged periods of time.