Privately-held Sebacia Inc. said today that it closed a $20 million Series D financing round, led by existing investors Versant Ventures, Domain Associates, Accuitive Medical Ventures and Partners Healthcare Innovation Fund.
New investors, including Salem Partners, also joined the round. The Duluth, Ga.-based company also said it closed a $16 million debt facility with Hercules Capital.
The company plans to use the funds to finish a pivotal trial in the U.S. of its microparticle acne treatment. Sebacia said it expects results from the study in mid-2018.
“At this pivotal time, we are grateful for the continued support of our top-tier venture capital syndicate and energized by the addition of Salem Partners and other new investors,” CEO Anthony Lando said in prepared remarks. “From intellectual property to extensive clinical experience and a defined clinical path to approval, we believe we have all the pieces to bring Sebacia’s breakthrough treatment for acne to market in Europe and the United States.”
The company’s light-activated microparticle treatment is delivered using a topical suspension designed to integrate with hair removal or pigmented lesion treatment laser systems – devices with which dermatologists are already likely familiar. The treatment has CE Mark clearance in Europe.
“We have been very impressed by the Sebacia team and are excited to join such a distinguished group of institutional life sciences investors,” John Dyett of Salem Partners added.
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