Vicept Therapeutics Inc., a Malvern, Pennsylvania-based specialty biopharmaceutical company dedicated to developing a topically applied therapy for erythema (facial redness) of rosacea, a common, chronic condition of the skin, has secured $10m to complete a total $16m Series A financing.
The round was led by Vivo Ventures, Sofinnova Ventures and Fidelity Biosciences.
The capital will be used to fund Phase I and II development of V-101, the company’s lead investigational product for the treatment of rosacea, as well as a second product to treat various forms of bruising and purpura.
The company was founded in 2009 by Dr. Neal Walker, President and Chief Executive Officer. Stephen Tullman serves as Executive Chairman of the board of directors.