Clinical-stage pharmaceutical company Scioderm has completed a Series A financing totaling $16m.
Life sciences investor Morgenthaler Ventures led the round, with Palo Alto-based Technology Partners as the second investor participating in the round.
With the proceeds from the Series A investment, dermatology therapeutics developer Scioderm said intends to advance its SD-101 topical cream product.
“We are pleased to be investing along with Technology Partners and a very experienced management team hopefully to make such a treatment available for patient use in the near future” said Ralph Christoffersen, PhD partner of Morgenthaler Ventures and head of its life sciences team.
“We are pleased to be able to contribute to a treatment for such a devastating disease in children,” added Roger Quy, PhD, general partner of Technology Partners. “Our investment in Scioderm is supported by our confidence in the experience of the founding team and early clinical results.”
Scioderm is a privately held, clinical-stage pharmaceutical company focused on developing topical products to address critical medical needs in the treatment of chronic skin diseases.
Morgenthaler Ventures is a premier venture capital firm, dedicated to helping entrepreneurs build valuable companies for more than 40 years. They have invested in approximately 300 companies in the life science and information technology sectors. Their passion for supporting entrepreneurship and innovation has earned them the respect of entrepreneurs and investors alike.
Morgenthaler Ventures’s representative companies include: Ardian, Avidia, Calithera, CardioThoracic Systems, CareMedic, Elcelyx, Ensure, FoldRx, ForSight VISION2, Galleon Pharmaceuticals, GlobeImmune, Innovative Pulmonary Solutions, Integrated Vascular Systems, IPC – The Hospitalist Company, Miramar Labs , Morphotek, Moximed, Nexis, OncoMed, Optiscan, Orexigen, Principia, Promedior, Perclose, Ra Pharma, Relievant, Ribozyme Pharmaceuticals, Second Genome, SetPoint Medical, Solta Medical, Spinewave, Stemgent, Tragara, Transcend Medical, Threshold Pharmaceuticals and Twelve.
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