DermBiont, a clinical-stage biotechnology company developing targeted topical therapeutics that address the root causes of skin diseases, announced that it has raised a $28 million Series A2 financing in parallel with the acquisition of clinical-stage biotechnology company Chromaderm, which is developing a topical inhibitor of melanin production as a first-in-class therapy for skin brightening, melasma, and other skin diseases associated with increased melanin production. As part of the transaction, Jeni Lee, Principal at Pivotal Life Sciences, joins DermBiont’s Board of Directors. In addition to Pivotal Life Sciences, the round also includes participation from Viking Global Investors, Olive Tree Capital, Toba Capital, Civilization Ventures, and other biotechnology investors.
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“We are excited to welcome Chromaderm and its team to DermBiont,” said Dr. Karl Beutner, co-founder and CEO of DermBiont. “Chromaderm’s topical small molecule drug in development is a great fit for the DermBiont portfolio, which is focused on targeted topical therapeutics for skin conditions with well-defined mechanisms of action.”
Chromaderm’s drug candidate, ruboxistaurin (SM-030), is an inhibitor of PKC-beta, which Chromaderm’s co-founder Dr. Barbara Gilchrest demonstrated is required for melanin production. A completed Phase 1 clinical trial under a US IND demonstrated that a topical formulation of SM-030 is able to inhibit UV-induced melanin production. An oral formulation of ruboxistaurin has been evaluated in Phase 1, 2, and 3 clinical trials in unrelated indications and demonstrated an excellent safety profile. Excess melanin production is the root cause of a number of common skin diseases including melasma, solar lentigos (sunspots), and post-inflammatory hyperpigmentation. These disorders are most common in people of Hispanic, African, and Asian descent and primarily affect women; melasma affects approximately 5 million people in the United States, with a prevalence rate up to 40% in certain populations. Current treatments for these conditions have minimal efficacy, are not specific, and have significant safety concerns.
Dr. Emma Taylor has recently joined DermBiont as Chief Medical Officer. Dr. Taylor, a board-certified dermatologist, was most recently founder and CEO of Naked Biome, where she successfully advanced the company’s lead product through Phase 1 clinical trials and led the company through acquisition.