VC firm Third Rock is funding (to the tune of $52 million) and assembling a team focused on fighting hearing loss with drugs, an effort that's sure to push the envelope when it comes to drug delivery and administration within the ear. Decibel Therapeutic's founders include Charles Liberman of Harvard Medical School, who studies the use of neurotrophins to restore synapses. The company promises to "combine recent innovations in hearing science with leading diagnostic tools, biological insights, modeling and therapeutic delivery techniques." GlaxoSmithKline's ($GSK) venture arm also participated in the Series A round. More from FierceBiotech