April 29, 2016
By Alex Keown, BioSpace.com Breaking News Staff
WESTLAKE VILLAGE, Calif. – Backed by $34 million in financing and leadership from Allergan ’s Kythera Biopharmaceuticals, Inc. , startup Sienna Biopharmaceuticals, Inc. launched with the goal of developing therapies for aesthetics and dermatology.
Sienna Biopharmaceuticals’ lead proprietary technology, Silver Plasmonic Therapy (SPT), has promising applications for acne and permanent hair removal, the company said in a statement. Clinical trials are already underway and the company is evaluating additional potential indications, Sienna said in the announcement. In announcing its launch, Sienna said it has a goal to bring innovative new products that “have the potential to improve patient outcomes and advance the practice of medicine in aesthetics and medical dermatology” to market. Sienna’s Silver Plasmonic Therapy includes the use of a proprietary topical solution containing patented plasmonic particles which is designed to interact with the light emitted by existing medical laser systems allowing controlled targeting of microstructures in the skin, the company said.
Sienna launched with an executive team that has a work history of developing more than 75 aesthetic and dermatological products and leading them through the regulatory process with the U.S. Food and Drug Administration. Products company leadership have under their belts include leading brands such as Kybella, Botox, Dysport, Juvederm, Vluma, Latisse, Solodyn and Aczone.
Keith Leonard, chairman of Sienna Biopharmaceuticals’ board of directors and the former chief executive officer of Kythera, said the company launches with proven abilities in R&D and commercialization of dermatological products.
“Given the current changing corporate landscape and disruption in the dermatology space, we believe the timing is right for a company focused on innovation in aesthetics and medical dermatology,” Leonard said in a statement.
The $34 million round of Series A financing was led by ARCH Venture Partners. Other investors include Altitude Life Science Ventures, Partner Fund Management, and Venvest Capital. Sienna noted the company was also backed “several prominent aesthetics and medical dermatology industry luminaries,” although the company did not name them in its statement.
“With this proven team and financing, we have a strong foundation from which we can advance our SPT technology and further our efforts in building a pipeline of early- to late-stage novel assets. All the pieces are in place to create the next great company in aesthetics and medical dermatology,” Frederick Beddingfield, president and chief executive officer of Sienna Biopharmaceuticals said in a statement.
In addition to Leonard and Beddingfield, Sienna’s board of directors include Kristina Burow, managing director of ARCH Venture Partners; Todd Harris, head of corporate development at Sienna; Bob Moore, chairman of One Revolution and Robert Nelsen, managing director of ARCH Venture Partners.
