NeuroSystec Corporation had been structured around development of fully implanted drug delivery devices specifically for delivering drugs to the ear to treat tinnitus. Chairman of the board was the late Alfred E Mann who over his lifetime had started several medical device companies pioneering the development of pacemakers for erratic hearts, insulin pumps for diabetics, cochlear implants for the deaf and retinal implants for the blind. He died at the age of 90. His death was announced by one of his companies, MannKind Corporation in which he had been actively involved until only days before his death when he abruptly stepped down as chairman. In 2013 it was announced that Otonomy - a clinical stage biopharmaceutical company developing innovative therapeutics for diseases and disorders of the inner and middle ear - had completed the acquisition of certain assets and rights to intellectual property (IP) related to the use of gacyclidine for the treatment of tinnitus from an affiliate of NeuroSystec Corporation.
