DermBiont, a Boston, MA-based clinical-stage biotechnology company, raised $35.2M in Series B funding, including a $27.1M Series B first close and $8.1M in converting outstanding notes.
The round was led by Double Point Ventures with participation from Viking Global Investors as well as other new and existing investors. Concurrent with the financing, Daniel Yadegar, M.D., Managing Partner at Double Point Ventures, joined DermBiont’s board of directors.
The company intends to use the funds to advance two drugs in development, SM-020, a topical novel AKT kinase inhibitor for the treatment of seborrheic keratoses (SKs), and SM-030, a topical novel PKC-beta inhibitor for the treatment of melasma and other hyperpigmentation disorders of the skin.
Led by Karl Beutner, M.D., Ph.D., and CEO, DermBiont aims to impact the root causes of skin diseases through the development of targeted therapeutics with well-defined mechanisms of action. The company’s targeted topical therapeutics pipeline includes two lead assets: SM-020 for the treatment of seborrheic keratoses and SM-030 for the treatment of melasma and other hyperpigmentation disorders of the skin.
FinSMEs
24/10/2023