THESAN PHARMACEUTICALS ANNOUNCES SERIES A FUNDING CO-LED BY NOVO VENTURES AND NOVARTIS VENTURE FUNDS. OCTOBER 2012
SAN DIEGO, CA, Thesan Pharmaceuticals announced the closing of a $16M Series A financing, co-led by Novo Ventures and Novartis Venture Funds. The company will focus on the development of novel approaches for the treatment of dermatological disorders. The lead drug candidate is a topically-applied new chemical entity expected to enter the clinic in 2013.
“For many years, drug development in the dermatology field has been dominated by old drugs just re-formulated into more cosmetically appealing foams, gels or lotions”, said Gordon Foulkes, Thesan’s Executive Chairman and CEO. “Thesan’s mission is to develop new chemical entities with novel mechanisms of action in order to substantially improve treatment outcomes for patients with a variety of dermatological diseases.”
The company’s first products have been licensed from the University of California, Irvine (UCI). The products have been developed in the laboratory of Professor Daniele Piomelli, who is Louise Turner Arnold Chair of Neurosciences at UCI and the Director of Drug Discovery and Development at the Istituto Italiano di Tecnologia (IIT), Genoa, Italy.
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