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Press Release

Otonomy Appoints Anthony J. Yost Chief Commercial Officer

SAN DIEGO, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Otonomy, Inc. (Nasdaq:OTIC), a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the inner and middle ear, today announced the appointment of Anthony J. Yost as chief commercial officer. Mr. Yost brings 30 years of experience in pharmaceutical product sales and marketing that includes building and managing commercial teams at multiple companies.

"The addition of Tony to the Otonomy team is an important step in the establishment of our commercial organization as we prepare for the regulatory filing of the New Drug Application for AuriPro™ with the FDA in the first half of 2015," said David A. Weber, Ph.D., president and CEO of Otonomy. "Tony's expertise in building high-performance commercial teams, and his broad pharmaceutical sales and marketing experience, including products sold in the hospital setting, as well as physician-administered drugs, make him well-suited to lead the commercialization efforts for AuriPro and Otonomy's other product candidates."

Mr. Yost has a strong track record in developing and implementing successful commercialization strategies in the life science industry including repeat experience in building and managing sales and marketing teams, and launching more than 20 new products. He joins Otonomy after serving as chief commercial officer for specialty pharmaceutical companies Prometheus Laboratories and EKR Therapeutics. Previously he served as general manager for the Western U.S. Operating Unit of Novartis Pharmaceuticals where he led commercial operations totaling more than 600 employees generating annual revenues in excess of $600 million. Mr. Yost joined Novartis after serving as president of Innovex, the U.S.-based pharmaceutical sales and marketing services division of Quintiles Transnational. At Innovex, he was responsible for more than 2,000 employees providing commercial services for both large and small pharmaceutical clients across a broad range of therapeutic areas. Mr. Yost has also held various commercial and general management positions at Schering-Plough, Boehringer Mannheim Pharmaceuticals and Eli Lilly and Company. He received a Bachelor of Science in Pharmacy from Purdue University.

About Otonomy

Otonomy is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapeutics for diseases and disorders of the ear. Otonomy's proprietary technology provides sustained exposure of drugs to the middle and inner ear following a single intratympanic (IT) injection. Otonomy has three product candidates in development. AuriPro™ is an antibiotic that has completed Phase 3 clinical trials in pediatric patients with middle ear effusion at the time of tympanostomy tube placement surgery. OTO-104 is a steroid that is in the first of two pivotal clinical studies for the treatment of patients with Ménière's disease. OTO-311 is an NMDA receptor antagonist in development as a treatment for tinnitus. For additional information, please visit www.otonomy.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements concerning the regulatory filing of the New Drug Application for AuriPro™ with the FDA in the first half of 2015. Forward-looking statements reflect the Company's current views with respect to certain current and future events and are subject to various risks, uncertainties and assumptions that could cause actual results to differ materially. Risks and uncertainties include, but are not limited to, the risk that clinical drug development involves a lengthy and expensive process with uncertain outcome. The risks, uncertainties and assumptions referred to above are discussed in detail in our reports filed with the Securities and Exchange Commission, including our Prospectus filed on August 13, 2014. The Company does not undertake to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof except as may be required by law.

CONTACT: Media Inquiries
         Canale Communications
         Heidi Chokeir, Ph.D.
         Vice President
         619.849.5377
         heidi@canalecomm.com

         Investor Inquiries
         Westwicke Partners
         Robert H. Uhl
         Managing Director
         858.356.5932
         robert.uhl@westwicke.com
Otonomy, Inc.