Dermira Secures $42,000,000 Series A Financing Round

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1baad9a3-c462-4c32-bdf9-8e5be1d39650&Preview=1
Date
10/20/2011
Company Name
Dermira
Mailing Address
2055 Woodside Road Redwood City, CA 94061
Company Description
Dermira is a development-stage, private biotech company focused on developing and commercializing innovative new therapies in dermatology. Dermira was founded by an experienced management team and owns and licenses a robust pipeline of innovative topical compounds addressing areas of need in dermatology. Our lead product candidate, lemuteporfin (LTS), is currently in clinical trials for acne.
Website
http://www.dermira.com
Transaction Type
Venture Equity
Transaction Amount
$42,000,000
Transaction Round
Series A
Proceeds Purposes
Funds will be used to advance the product pipeline, specifically, lemuteporfin, a potent and selective topical photodynamic therapy (PDT) for acne, licensed from QLT Inc., as well as a robust pipeline of novel, topical small molecule therapeutics for sebaceous gland hyperactivity and inflammatory skin diseases.
M&A Terms
Venture Investor
Bay City Capital
Venture Investor
New Enterprise Associates
Venture Investor
Canaan Partners