Dermata Therapeutics, LLC, a San Diego, CA-based biotechnology company developing new and innovative products to treat a variety of dermatological diseases, completed a $5m Series 1a financing.
Dermata received $2.5m at closing and, under the terms of the agreement, will receive an additional $2.5m later this year, subject to achievement of certain specified milestones.
The company, which also entered into a $5m credit facility with Silicon Valley Bank (SVB), intends to use the capital to complete two ongoing Phase 2 clinical studies with its lead candidate DMT210 in atopic dermatitis and rosacea.
Led by Gerald Proehl, President and CEO, Dermata is a development-stage biotechnology company focused on making major advancements in the treatment of serious diseases treated by dermatologists. The company is currently focused on progressing four programs for the treatment of acne rosacea, atopic dermatitis, acne vulgaris and ocular rosacea.