DermaMedics, an Oklahoma City-based health care business, has received a $1.5m investment.
Backers include i2E, Inc., which committed $325k through the OKAngel Sidecar Fund, one of its three investment vehicles created by i2E in the framework of Accelerate Oklahoma! partnership with the Oklahoma Department of Commerce and the U.S. Treasury State Small Business Credit Initiative.
The company intends to use the funding to increase its sales nationwide.
DermaMedics produces and markets topical anti-inflammatory products to prevent burns in cancer patients and in patients undergoing cosmetic procedures, as well as products to treat a variety of common skin diseases such as psoriasis, acne, eczema and rosacea, and skin aging. The company’s products are based on technology developed at the University of Oklahoma Health Sciences Center by CEO Bryan Fuller, Ph.D., a professor and skin biochemistry researcher.
DermaMedics currently employs 14 people.