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Novo Ventures leads $49m Series B for anti-acne business Thesan Pharmaceuticals

25 Feb 2014

skin5_lrgBiotechnology business Thesan Pharmaceuticals, which aims to treat skin disorders including acne and dermatitis, has picked up $49m of Series B financing led by existing backer Novo Ventures.

New capital came to the company from SV Life Sciences, Lundbeckfond Ventures and Novartis Venture Fund.

Novo partner Peter Bisgaard said, “We believe Thesan offers a unique opportunity for developing completely new classes of dermatological agents, which can be moved rapidly into clinical development.

“Dermatology has been dominated in the last 20 years by reformulated or repurposed products.

“We see Thesan as leading the charge to bring novel medicines to patients.”

Lundbeckfond’s Mette Kirstine Agger and SV’s Michael Ross are set to join the Thesan board of directors following the financing round.

SV’s Tracy Saxton added, “Thesan has the potential to make a big difference in the lives of patients with dermatologic conditions.

“Gordon and his team have assembled a very strong product pipeline of entirely novel clinical candidates.”

Last April clinical-stage pharmaceutical company Scioderm completed a Series A financing totaling $16m to help it battle chronic skin conditions.

Life sciences investor Morgenthaler Ventures led the round, while Palo Alto-based Technology Partners also took part.

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