Bonti, a Newport Beach, Calif.-based clinical-stage biotechnology company, secured $11.7m in Series B financing.
The round was led by RBV Capital with participation from City Hill Ventures, Colt Ventures, JMCR Partners and HighLight Capital, and other existing investors. In connection with this investment, Alexey Konov, Ph.D. from RBV Capital joined Bonti’s board of directors.
The company, which has raised over $20m to date, intends to use the funds to continue developing EB-001, advance past regulatory steps and begin sharing its clinical findings more broadly with key healthcare professionals.
Led by Fauad Hasan, co-founder and CEO, Bonti is advancing EB-001, a botulinum neurotoxin for targeted aesthetic and therapeutic indications.
These latest funds will enable the completion of the Phase 2 clinical study in the aesthetic indication, the beginning of a Phase 2 clinical study for its long-acting, non-opioid musculoskeletal therapeutic treatment (during the second half of 2017) and speed up of the generation of interim data by the end of the year.