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Domain, Alta return to Lithera in $20.6m equity round

27 Dec 2012

Life sciences-focused venture firms Domain Associates and Alta Partners have re-upped their investments in Lithera as part of a $20.6m equity financing.

Lithera targets pharmaceutical and biomedical products in the lifestyle and medical sectors, including fat reduction and ophthalmology.

The pair were joined by new investors RusnanoMedInvest, a subsidiary of Russian nanotech investor Rusnano, AmorePacific Ventures (APV) and Numoda Capital Innovations (NCI).

APV is the venture arm of South Korea’s largest cosmetic and aesthetic company AmorePacific, while NCI is the investment arm of clinical trial and logistics services provider Numoda Corporation.

Lithera president and CEO George Mahaffey said, “We are pleased to attract a prestigious syndicate of investors with a proven track record of investing in development companies similar to Lithera.

“Domain and Alta have been strong supporters of Lithera and we look forward to our new partnership with RMI.

“We are also pleased to welcome AMOREPACIFIC and Numoda.

“Abdominal contouring is a rapidly growing area of aesthetic medicine and our injectable, non-ablative approach to reduce the size of subcutaneous abdominal fat deposits should be highly desirable to physicians and patients.”

In July Obalon Therapeutics, a medical technology company which is developing gastric balloon technology for weight loss, closed a $16.5m Series C round.

Menlo Park-based InterWest Partners led the financing, with previous investors Domain Associates and Okapi Venture Capital also taking part.

The company is developing a novel, non-surgical device for weight loss consisting of a capsule containing a balloon which is swallowed and then remotely inflated to simulate a full stomach.

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