Creabilis SA, a Luxembourg-based clinical stage biotechnology company dedicated to creating new drugs to tackle dermatology and inflammatory diseases dermatology, has raised €15m ($20m) in a Series B funding.
The round was led by Abbott Biotech Ventures, with participation from existing investors Neomed, Sofinnova Partners, and private Italian investors.
The company intends to use the new funds to finance the development its treatments including its lead product CT327 to the end of phase II.
CT327 is a novel topically applied TrkA kinase inhibitor developed using Creabilis’ Low Systemic Exposure (LSE) technology.
The pipeline also includes CT637, a new approach to the treatment of significant inflammatory and autoimmune conditions and CT340, a TrkA kinase inhibitor that has therapeutic potential in a broad range of inflammatory conditions. Both treatments are expected to reach Investigational New Drug application (IND) stage of development in early 2012.
Led by CEO Dr Eliot Forster, Creabilis also has offices in Italy and UK.