Dermira raises $51m Series C from new and existing backers


skinMedical dermatology products maker Dermira has secured $51m in a Series C round backed by new and existing backers.

Bay City Capital, New Enterprise Associates, Canaan Partners and UCB participated in the round alongside new investors Apple Tree Partners, Aisling Capital, Rock Springs Capital, Sabby Capital.

Dermira’s portfolio includes three late-stage product candidates, Cimzia, a treatment of moderate-to-severe plaque psoriasis, DRM04, a topical treatment for hyperhidrosis, and DRM01, a topical sebum inhibitor for the treatment of acne.

Bay City led Dermira’s $42m Series A round in November 2011 to help fund the company’s acquisition of Canadian rival Valocor Therapeutics.

One of Dermira’s investors, New Enterprise Associates, invested $37.5m of Series B capital in business process management software provider Appian in March this year.

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