Castle Creek Pharmaceuticals, a Bedminster, N.J.-based biopharmaceutical company with a focus on the treatment of patients with rare and debilitating dermatologic and head and neck conditions, raised $48m in funding.
Fidelity Management and Research Company made the investment.
Founded by CEO Michael Derby and Jeffrey Aronin, Castle Creek has assembled a diversified late-stage pipeline of innovative and high-potential products in the specialty dermatology and ear, nose and throat (ENT) space, with a particular focus on rare diseases and other areas of high medical need.
The company intends to use the funds to complete development of its late-stage clinical pipeline, including its lead program for the treatment of patients with epidermolysis bullosa simplex, which will be starting a clinical registration trial in the fourth quarter of this year.
Yesterday, it announced the presentation of final results from a Phase 2 study evaluating the efficacy and safety of topical diacerein 1%, an inhibitor of interleukin-1β (IL-1β), compared with placebo in patients with Epidermolysis Bullosa Simplex (EBS).