Brickell Biotech Inc., a Miami, FL-based development-stage pharmaceutical company focused on the development of innovative drug therapies for the treatment of skin diseases, raised $7m in Series B financing.
The round was led by AMOREPACIFIC Ventures, with participation from Palisade Concentrated Equity Partnership II, L.P., a PE fund managed by Palisade Capital Management, and others.
Founded in 2009 by President Reginald Hardy, Brickell has a pipeline of new chemical entities in dermatology for indications including acne, atopic dermatitis, and hyperhidrosis.
The company intends to use the capital to further develop novel compounds from pre-clinical proof of concept through clinical testing. Under the terms of the transaction, AMOREPACIFIC, the Korean cosmetic company behind AMOREPACIFIC Ventures, will also obtain an option to first negotiate an exclusive license to market two of Brickell’s novel compounds in the Republic of Korea.
The company is also led by David Angulo, M.D., Vice President, Research and Development, Andrew Sklawer, Vice President, Operations, and Charles Betlach, Ph.D., Vice President, New Products.