Bonti, a Newport Beach, Calif.-based clinical-stage biotechnology company, closed a $15.5m Series C financing.
The round was led by City Hill Ventures.
In conjunction with this funding and in preparation for the rest of 2018 and beyond, Bonti has appointed David Ramsay as Chief Financial Officer (CFO). Mr. Ramsay is currently a Bonti director and was formerly CFO at Halozyme Therapeutics, Inc. (NASDAQ: HALO), where he was responsible for leading the finance, accounting, reporting, tax, treasury, investor relations, information technology and commercial organizations.
The company, which has now raised over $36 to date, intends to use the funds to:
– continue developing EB-001, a botulinum neurotoxin, for its targeted therapeutic and aesthetic indications, to enable completion of an ongoing first Phase 2 pain study, LANTERN-1 (Long-Acting NeuroToxin-E Relief, Non-opioid), initiation and completion of a second Phase 2 pain study (LANTERN-2) and preparation for an End of Phase 2 FDA meeting, and
– for market research and for working capital.
Led by Fauad Hasan, CEO and co-founder, and Jonathan Lim, M.D., Chairman and co-founder of Bonti and Managing Partner of City Hill Ventures, Bonti is advancing EB-001, an investigational botulinum neurotoxin serotype E (BoNT/E). EB-001 has a mechanism of action similar to the marketed botulinum neurotoxin serotype A (BoNT/A) products though it has a differentiated clinical profile which may be well suited for a vast range of aesthetic and therapeutic uses, including for the treatment of post-surgical and non-surgical musculoskeletal pain, with currently unmet needs.