Dermira raises $35m in series B
This article was originally published in Scrip
Dermira, a dermatology-focused biotech, has raised $35m in a series B financing.
The Redwood, California-based company had previously raised $42m in a series A financing in 2011 (scripintelligence.com, 24 October 2011). This latest round includes existing investors Bay City Capital, New Enterprise Associates and Canaan Partners, as well as new investor Maruho, the leading dermatology company in Japan.
Dermira was founded in 2011 with seed financing from the members of the Peplin and Connetics leadership team. The company has three novel product candidates in its pipeline, which it gained from its acquisition of Valocor Therapeutics in 2011 (scripintelligence.com, 24 October 2011). Its lead compound, lemuteporfin for the treatment of acne, is ready for Phase I/II. Dermira also has two other preclinical candidates, DRM01 for acne and DRM02 for inflammatory skin disease.
Tom Wiggans, Dermira's CEO, said: "This financing, with the addition of Maruho and their expertise in global dermatology, demonstrates Dermira's continued progress in the development of innovative, novel compounds in areas of high patient need."