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Dermira Raises $35m to Fund Innovation in Dermatology
REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Dermira, a development-stage biotechnology company focused on developing and commercializing innovative new therapies in dermatology, today announced that it has raised $35 million of new funding in a Series B financing and related transaction. In this round, new investor, Maruho Co., Ltd. (Maruho), the leading dermatology company in Japan, joins Dermira’s existing investors, Bay City Capital, New Enterprise Associates, and Canaan Partners.
“This financing, with the addition of Maruho and their expertise in global dermatology, demonstrates Dermira’s continued progress in the development of innovative, novel compounds in areas of high patient need. This support from premier investors and partners further underscores the opportunities for innovative new therapies in dermatology around the world," said Tom Wiggans, CEO of Dermira.
Dermira was founded and seed financed in late 2010 by former members of the Peplin and Connetics leadership teams, including Tom Wiggans and Dr. Eugene Bauer together with Bay City Capital. These new funds provide Dermira with the resources required to continue to advance its robust pipeline of novel therapeutics for serious dermatological conditions.
Dermira is a private, development-stage company focused on developing and commercializing innovative new therapies in dermatology. Dermira was founded by an experienced management team and is advancing a robust pipeline of innovative topical compounds addressing key areas of need in dermatology. The Company’s portfolio of dermatology therapeutics includes lemuteporfin, a potent and selective topical photodynamic therapy for acne and a portfolio of novel, topical small molecule therapeutics targeting acne, sebaceous gland hyperactivity, and inflammatory skin diseases. Dermira is headquartered in Redwood City, California. For more information, please visit www.dermira.com.
Maruho Co., Ltd., founded in 1915 in Osaka, leads Japan in the development and commercialization of dermatological products with sales of approximately $607 million (¥ 61 Billion) in FY 2011. Maruho has recently set up overseas subsidiaries for clinical development and marketing research. As part of its commitment to advancing Excellence in Dermatology, Maruho has more than 10 dermatological programs in its pipeline, including treatments for atopic dermatitis, psoriasis, acne, and other disorders. Maruho’s long-term vision is to provide innovative pharmaceutical products to treat a wide range of skin disorders in the global marketplace.
Tom Wiggans, 650-461-4600
Chief Executive Officer
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