Dermira scores $35M venture round for dermatology pipeline
Less than two years after grabbing a $42 million A round, Dermira's team of biotech veterans has gone back to the venture well for $35 million more to advance a slate of dermatology treatments for acne and inflammatory skin conditions.
Dermira CEO Tom Wiggans is perhaps best known for selling another dermatology company, Connetics, for $600 million about 7 years ago. Japan's Maruho, a dermatology company, stepped in to lead the latest round, with help from Bay City Capital, New Enterprise Associates, and Canaan Partners.
Founded in 2010, Redwood City, CA-based Dermira paired Wiggans with Eugene Bauer, who joined Peplin as chief medical officer when Wiggans took over as CEO of that biotech. At Dermira the two have put together a portfolio of dermatology therapeutics that includes lemuteporfin, described as a selective topical photodynamic therapy for acne, and a group of topical small-molecule therapeutics targeting acne, sebaceous gland hyperactivity, and inflammatory skin diseases.
"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," Wiggans said in a statement. "This support from premier investors and partners further underscores the opportunities for innovative new therapies in dermatology around the world."
- here's the press release