Thesan Pharmaceuticals, a San Clemente CA-based biotechnology company focused on the development and commercialization of novel drugs for the treatment of dermatological conditions, has closed a $16m Series A financing.
The company intends to use the capital to develop novel approaches for the treatment of dermatological disorders. Its lead drug candidate is a topically-applied new chemical entity expected to enter the clinic in 2013.
Thesan’s first products have been licensed from the University of California, Irvine (UCI). The products have been developed in the laboratory of Professor Daniele Piomelli, who is Louise Turner Arnold Chair of Neurosciences at UCI and the Director of Drug Discovery and Development at the Istituto Italiano di Tecnologia (IIT), Genoa, Italy, a private law Foundation jointly established by the Ministry of Education, University and Research and the Ministry of Economy and Finance, with the aim of promoting excellence in both basic and applied research and to facilitate the development of the national economy. IIT’s total staff is comprises of over 1000 individuals.
In conjunction with the funding, Peter Bisgaard and Tiba Aynechi from Novo, as well as Giovanni Ferrara and Henry Skinner from Novartis have joined the company’s Board, along with Dr. Howard Welgus, former VP R&D for Dermatology/Inflammation at Pfizer.
The company is led by Gordon Foulkes, Executive Chairman and CEO.