Atlanta Medical Startup Sebacia Raises $22M
Friday, June 26, 2015
Posted by: Angela King
Sebacia, Inc., a company dedicated to delivering breakthrough treatments to advance dermatology, today announces the completion of a $22 million Series C financing. The financing includes $12 million in equity from existing investors, Accuitive Medical Ventures, Domain Associates, Versant Ventures, and Partners Innovation Fund, and $10 million in a credit facility from Square 1 Bank. With the proceeds of the financing, Sebacia plans to complete its pivotal U.S. clinical trial and the application to the U.S. Food and Drug Administration (FDA) to register the Sebacia Treatment as an approved medical device to treat moderate to severe acne, expand its intellectual property portfolio, as well as prepare for manufacturing scale-up to support European and U.S. launches of the product.
“We are grateful to our returning investors for their continued support as we complete our U.S. pivotal clinical trial and FDA application and prepare for U.S. and European commercial launches of Sebacia Treatment, an innovative dermatology product that is designed to significantly improve acne treatment,” said Anthony Lando, Sebacia’s CEO. “If approved, the Sebacia Treatment would be the first procedure performed by a dermatologist that is intended to provide relief from acne without use of daily pills, lotions and creams.”
Unlike other acne prescriptions that require daily use of lotions or pills, the Sebacia Treatment is intended to reduce acne with a few, simple treatments performed at a dermatologist’s office. Utilizing proprietary Sebacia Gold Microparticles in combination with hair removal lasers in routine use by many dermatologists, the technology has demonstrated efficacy in two published clinical studies in the Journal of Investigative Dermatology, part of the Nature Publishing Group.
“Our clinical data so far has shown that the Sebacia Treatment can deliver a robust and significant reduction in acne, which we believe will have tremendous benefit to the many who struggle for years with the condition,” said Mr. Lando. “The newest round of financing will also support commercialization as we recruit talent and bring multiple manufacturing options online.”
Sebacia also announced today the appointment of Pedro Medrano in a new role of Vice President, Engineering and Program Management. With former roles at Philips Healthcare, Novartis and St. Jude Medical, Inc., Mr. Medrano has more than 20 years of experience in medical device product development and commercialization.
Source: Atlanta Metro CEO. http://metroatlantaceo.com/news/2015/06/atlanta-medical-startup-sebacia-raises-22m-acne-treatment/