Palvella Therapeutics, a Wayne, PA-basedclinical-stage biopharmaceutical company, raised up to $37.7M in Series D funding.
The round was led by Petrichor and Gore Range Capital with participation from Samsara BioCapital, BVF Partners L.P., Agent Capital, Nolan Capital, and BioAdvance. Tadd Wessel, Founder and Managing Partner of Petrichor, joined the Palvella Board of Directors.
Led by Wes Kaupinen, Founder and Chief Executive Officer, Palvella Therapeutics is a late clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies to treat patients suffering from serious, rare genetic skin diseases in indications for which there are no FDA-approved therapies. Its development model involves partnering with patient advocacy organizations and their patient registries to design accelerated development programs aimed at expediting the introduction of targeted therapies to patients who currently lack any approved treatment options. The company develops a broad pipeline of product candidates based on its patented QTORIN platform, with an initial focus on serious, rare genetic skin diseases, many of which are lifelong in nature.
Proceeds from the financing will be used to advance the development of Palvella’s lead product candidate QTORIN™ 3.9% rapamycin anhydrous gel (QTORIN™ rapamycin) for the treatment of Pachyonychia Congenita (PC), treatment of Microcystic Lymphatic Malformations (Microcystic LM), and for the prevention of Basal Cell Carcinomas (BCCs) in Gorlin Syndrome (GS). QTORIN™ rapamycin has received FDA Fast Track Designation for PC, Microcystic LM, and for the prevention of BCCs in GS.
FinSMEs
09/01/2023