Dermatology firm Valocor spins out of QLT with seed funding
This article was originally published in Scrip
A new company has been spun out of QLT to focus on the development of dermatological therapies. Vancouver, Canada-based Valocor raised an undisclosed amount through a seed financing and is now raising a series A round of about $8 million which it expects to complete by the end of the year. It has budgeted for spending of $4.8 million in 2011.