DermBiont gains US$35.2M in funding for advancing dermatological skin cream
27 Oct 2023 --- DermBiont, a clinical-stage biotechnology company, has announced a US$35.2 million Series B financing, combining a US$27.1 million Series B first close and US$8.1 million in converting notes.
The company is advancing targeted topical therapeutics for the treatment of dermatological indications. The proceeds will be used to further two drugs in development, SM-020, a topical AKT kinase inhibitor for the treatment of seborrheic keratoses (SKs) and SM-030, a topical PKC-beta inhibitor for the treatment of melasma and other hyperpigmentation skin disorders.
Double Point Ventures led the Series B alongside continued support from Viking Global Investors, Civilization Ventures and Olive Tree Capital.
“I am excited to be working closely with DermBiont’s team to advance two products, one for the treatment of seborrheic keratoses and the other for the treatment of melasma. [The products are] two of the most frequently diagnosed skin diseases by dermatologists,” says Daniel Yadegar, managing partner at Double Point Ventures, who joined DermBiont’s board of directors.
“These products prioritize the patient experience by addressing the root cause of both diseases with excellent efficacy, safety and tolerability.”
DermBiont will fund the creation of skin creams for hyperpigmentation.He continues: “Physicians understand that patients with SKs and hyperpigmentation disorders of the skin are seeking effective, safe and well-tolerated topical treatment options compared with existing ablative surgical procedures for treating SKs or ineffective lasers with frequent recurrence or unsafe toxic chemicals with very low efficacy like hydroquinone for treating melasma.”
Funding for skin
The proceeds from the Series B financing will be used to advance the clinical development of SM-020 and SM-030. The earnings will fund the company through the end of its Phase 2 meetings with the US FDA, which are expected for both programs in the second half of 2024.
In the next twelve months, DermBiont will commence enrollment for three planned seborrheic keratoses clinical trials and one melasma trial as follows:
- Phase 2b randomized, double-blind and vehicle-controlled clinical trial in 60 subjects with seborrheic keratoses treated with SM-020 gel 1% or vehicle twice daily for 28 days.
- Phase 2b open-label clinical trial in 10 subjects with DPN (Dermatosis Papulosa Nigra) treated with SM-020 gel 1% twice daily for 28 days.
- Phase 2 open-label clinical trial extension in 25 additional subjects with seborrheic keratoses treated with SM-020 gel 0.1% or SM-020 gel 1% daily or twice daily for 28 to 56 days.
- Phase 2b randomized, observer-blinded and placebo-controlled clinical trial in 138 subjects with melasma treated with SM-030 gel 0.64%, SM-030 gel 0.08%, or placebo gel twice daily for 12 weeks.
“The addition of Double Point Ventures as a major backer, alongside continued financial and strategic support from Viking Global Investors and other investors, allows us to accelerate the development of our pipeline of novel topical therapeutics for the treatment of the number one and number three most frequently diagnosed disorders of the skin by dermatologists in the US, seborrheic keratoses and hyperpigmentation, respectively,” explains Karl Beutner, CEO and co-founder of DermBiont.
“This funding comes on the heels of our successful Phase 2 proof of concept trials, where SM-030 gel 0.64% achieved greater efficacy than 4% hydroquinone and where over 80% of SKs responded to treatment with SM-020 gel 1.0% twice daily for 14 to 28 days and over 50% of SK lesions completely cleared in the most effective dosing regimen.”
Edited by Sabine Waldeck
