Sienna Biopharmaceuticals, a development stage company with a focus on aesthetics and medical dermatology, recently announced completion of a $34 million Series A financing.
ARCH Venture Partners led the financing, while Altitude Life Science Ventures, Partner Fund Management, and Venvest Capital, were other investors, according to a press release.
Silver Plasmonic Therapy (SPT) is Sienna Biopharmaceuticals’ lead proprietary technology, which is being studied for treating acne and permanent hair removal, according to the release. Clinical trials are underway, with additional potential indications being studied.
“We are pleased with the opportunity to partner with high-quality investors who share our vision of bringing innovative new products to market in aesthetics and medical dermatology,” Frederick C. Beddingfield III, MD, PhD, president and CEO of Sienna Biopharmaceuticals and former co-founder, president and CEO of Kythera Biopharmaceuticals, stated in the release. “With this proven team and financing, we have a strong foundation from which we can advance our SPT technology and further our efforts in building a pipeline of early- to late-stage novel assets.”
The company’s executive team includes industry executives from Kythera Biopharmaceuticals, recently acquired by Allergan, which developed Kybella (deoxycholic acid). Its executive team also helped to develop or commercialize 75 aesthetic and dermatology products, including Botox (onabotuniumtoxinA, Allergan), Dysport (abobotulinumtoxinA, Galderma), and Juvéderm (hyaluronic acid, Allergan).
“Given the current changing corporate landscape and disruption in the dermatology space, we believe the timing is right for a company focused on innovation in aesthetics and medical dermatology,” Keith Leonard, executive chairman of Sienna Biopharmaceuticals and former CEO of Kythera, stated in the release. “Sienna Biopharmaceuticals combines a world class team with proven abilities in R&D and commercialization and strong financial backing.”