Otonomy said Wednesday that it has raised $45.9 million in Series C financing. The lead investor was OrbiMed Advisors. New investors Aperture Venture Partners and Osage University Partners also participated in the round as did existing investors Avalon Ventures, Domain Associates, Novo Ventures, RiverVest Venture Partners and TPG Biotech. In conjunction with the financing, OrbiMed's Chau Q. Khuong joins Otonomy's board of directors. Based in San Diego, Calif., Otonomy is a biopharmaceutical company that develops treatments for ear disorders and diseases.