Corporate VCs back $49M round for dermatology player

Novo Ventures has stepped up to lead a $49 million round for San Diego-based Thesan Pharmaceuticals, which is developing new dermatology drugs for conditions like acne and atopic dermatitis. SV Life Sciences and Lundbeckfond Ventures joining Novartis Venture Fund also contributed to the round. "Dermatology has been dominated in the last 20 years by reformulated or repurposed products," said Peter Bisgaard, a partner at Novo Ventures, in a statement. "We see Thesan as leading the charge to bring novel medicines to patients." Release

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